Data through August 2010, released today by Standard & Poor’s for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show a deceleration in the annual growth rates in 17 of the 20 MSAs and the 10- and 20-City Composites in August compared to what was reported for July 2010. The 10-City Composite was up 2.6% and the 20-City Composite was up 1.7% from their levels in August 2009. Home prices decreased in 15 of the 20 MSAs and both Composites in August from their July levels.
Chicago was only one of five MSA cities that showed marginal improvements in home prices during July, the other cities being Detroit, Las Vegas, New York, and Washington D.C. All of these cities (with the exception of Las Vegas) have also reported four consecutive months of positive increases in home prices, though none greater than 1%.
Please click here to see the full pdf of the press release: S&P[Oct.]