City-by-city look at U.S. house prices, as western markets lead the way

 

Portland, Dallas lead monthly gains in home prices

Here’s a city-by-city look at U.S. house prices in July, after the S&P/Case-Shiller 20-city composite showed a 0.6% advance.

The 20 cities exclude a few major metropolitan areas, including Houston and Philadelphia.
City Monthly price change (%) 12-month price change (%)
Atlanta 0.8% 5.8%
Boston 1.1% 4.3%
Charlotte 0.1% 4.9%
Chicago 0.9% 1.8%
Cleveland 0.8% 3.1%
Dallas 1.2% 8.7%
Denver 0.7% 10.3%
Detroit 0.7% 5.4%
Las Vegas 0.8% 6.2%
Los Angeles 0.4% 6.1%
Miami 0.4% 7.3%
Minneapolis 0.8% 3.6%
New York 0.5% 1.9%
Phoenix 0.7% 4.6%
Portland 1.3% 8.5%
San Diego 1.1% 5.4%
San Francisco 0.6% 10.4%
Seattle 0.5% 7.3%
Tampa 0.6% 5.5%
Washington D.C. 0.5% 1.7%

• Seasonally adjusted, prices fell 0.2%. Prices usually climb in the spring-to-summer season.

• The hot housing markets are out west. Over the last 12 months, San Francisco and Denver were the only cities with double-digit price gains. Since 2000, Los Angeles, San Francisco and San Diego have seen the strongest rises.

• Since the March 2012 lows, the 20-city composite has climbed 35.7%, but it’s still down 12% from bubble-level highs.

• Miami, Tampa, Phoenix and Las Vegas have yet to make new all-time highs.

• Other house price indexes have reported a similar picture. The Federal Housing Finance Agency’s index, which only includes mortgages backed or sold to Fannie Mae and Freddie Mac, rose 5.8% over the 12 months ending July, while CoreLogic’s index grew 6.9% over the same time period.

written by  Steve Goldstein

 

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