Keeping you up to date on the latest data releases.
The S&P Case-Schiller home price indexes showed continued growth in August. The 10-city index increased 0.4 percent from July to August and the 20-city index grew 0.5 percent (both rates are seasonally adjusted). Nineteen cities saw monthly gains in home prices with the exception of Seattle, where prices declined by 0.1 percent. Both composite indexes posted better annual rates of return than July with the 10- and 20-city indexes up 1.3 and 2.0 percent, respectively. Only three cities saw negative annual returns in August: Atlanta with &minusl6.1 percent, New York at −2.3 percent and Chicago at −1.6 percent. Phoenix continued to lead the growth in annual returns, posting its fourth consecutive month double-digit increase of 18.8 percent. The gains in the indexes put home prices back to their summer/autumn 2003 levels.
The FHFA housing price index rose a seasonally adjusted 0.7 percent from July to August. The estimated increase of 0.2 percent in July was revised downward to 0.1 percent. Over the past 12-months the index rose 4.7 percent, showing positive annual growth for the seventh consecutive month. All regions saw positive growth in annual returns ranging from an 11.4 percent increase in the Mountain region to a 0.4 percent increase in the Middle Atlantic. Overall, housing prices are back to mid-2004 index levels.