Keeping you up to date on the latest data releases.
All three S&P Case-Shiller housing price indexes continued to increase in June. The national index was up 7.1 percent in the second quarter of this year and 10.1 percent over the past four-quarters. Both the 10- and 20-city composites rose 2.2 percent for the month, and 11.9 percent and 12.1 percent, respectively since last June. All 20 cities posted gains on a monthly and annual basis with Dallas and Denver reaching new all-time highs. However, in only six cities were home prices rising fast in June compared to May. Overall home prices are back to spring 2004 levels.
The FHFA national housing price index rose 2.1 percent in the second quarter of 2013 and is up 7.2 percent compared to the second quarter of 2012. As for states within the District, four-quarter price changes ranged from a 1.9 percent increase in Kentucky to a 3.7 percent increase in Pennsylvania. Looking at purchase-only indexes for the 100 most populated metropolitan areas within the U.S., the Orlando, FL metro area reported the greatest price increases (up 10.0 percent in the second quarter) while prices were weakest in the Akron, OH area (down 3.9 percent). The expanded-data housing price index (which adds transaction information from county recorder offices) rose 2.4 percent in the second quarter of this year and is up 7.5 percent since this time last year. The overall monthly index for June was up 0.7 percent from May and 7.7 percent since June 2012. The monthly index is now back to early 2005 price levels.