Keeping you up to date on the latest data releases.
In February, the S&P Case-Shiller housing price indexes rose 0.4 percent and 0.3 percent, respectively for the 10- and 20-city composites. Cities like Atlanta and Phoenix, which are still recovering from a wave of recent foreclosures, showed strong double-digit annual gains, as well as Tampa and San Diego which posted their first ever double-digit annual gains. Annually, the 10-city composite was up by 8.6 percent and the 20-city composite was up by 9.3 percent. All 20 cities have posted annual improvements over the last two months and the February report marks the largest annual increase for both composites since May 2006. Overall, the home prices appear to be improving and are now back to fall of 2003 levels.
The FHFA housing price index rose 0.7 percent from January to February and is up 7.1 percent over the past 12 months. Regionally, all areas made moderate monthly gains except for the Mid-Atlantic, which fell 0.6 percent, and also posted the smallest annual growth rate which ranged from increases of 1.9 percent to a 15.3 percent in the Pacific. The index has now improved to being 13.6 percent below its April 2007 peak and is back to late 2004 price levels.