S&P Case-Shiller Index Shows Increase in Home Prices

1 Aug

In Tuesday’s Case-Shiller Home Price Index, prices in the 20 cities surveyed rose 2.2 percent month-month.

The 10-city index also improved 2.2 percent in May, the year-year decline in prices dropping to 1.0 percent in May from 2.2 percent in April.

Prices improved month-month in all of the 20 cities tracked by Case-Shiller, led by a 4.5 percent jump in Chicago and a 4.0 percent increase in Atlanta.

Year-year, the median price of an existing single family home was up 7.9 percent in May, according to NAR and the median price of a new home rose 6.8 percent according to the Census-HUD report.

The National Association of Realtors reported an increase in the median price of a single-family home by 3.8 percent in May, while HUD reported an increase of 1.5%.  Whoever you ask, prices are on the rise, which bodes well for anyone in the mortgage business.

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