Case-Shiller Index, Home Values, Housing Analysis

Top 20 Metro Area Home Values Continue To Recover

March 6, 2013 by · Leave a Comment 

Metro Values Up Case-Shiller 2013The Standard and Poor’s Case-Shiller Home Price Indices released February 26 show strong growth in the majority of 20 cities and corresponding metro areas tracked during 2012.

The S&P Case-Shiller Home Price Indices measure home prices nationally and locally by compiling data from indexes including a 10-City Composite Index,  a 20-City Composite Index, and a 20-Metro Area Index that includes metro areas for each of the 20 cities used in the 20-City Composite.

Click here to apply for your FREE home loan approval.

Metro Areas Show Nearly Universal Growth
19 of 20 metro areas showed higher home prices in Q 4 2012 with the New York metro area showing a decrease in home prices. This could be due in part to the impact of Hurricane Sandy.

The Atlanta and Detroit metro areas saw Q4 2012 Atlanta home prices increase by 9.9 percent year-over year, while Detroit home prices rose by 13.6 percent as compared to Q4 2011.

Home prices in the Phoenix Metro area improved by 23 percent compared to Q4 2011 for the highest year-to-year increase of all metro areas in 2012.

Click here to apply for your FREE home loan approval.

The 10 and 20 city indices and national home price composite improved as well.
The 10 and 20-city composites have gained approximately 8 to 9 percent since reaching their most recent lows in March of 2012.

Current readings indicate that home values have returned to autumn 2003 levels, but remain about 30 percent lower than they were at their peaks in June and July 2006.

On a month-to-month basis, both the 10-and 20-city composite Indices returned to positive readings with each rising by 0.2 percent, which recovered last month’s losses of 0.2 and 0.1 percent respectively.

Click here to apply for your FREE home loan approval.

The national home price composite is determined from information taken from the 9 geographic divisions established by the U.S. Census Bureau. It rose by 7.3 percent year-to-year, but fell short of the Q3 2012 reading by 0.3 percent.

While some areas are still facing challenges, some cities and metro areas where home values declined the most are rebounding nicely.

All in all, it is quite apparent that both the broad U.S. and Northwest Indiana housing markets are recovering.

Click here to apply for your FREE home loan approval.

Related Posts Plugin for WordPress, Blogger...
Be Sociable, Share!

WelcomeHomeNWI

WelcomeHomeNWI.com was created to demystify the national real estate headlines and to provide unbiased real estate trends and statistics relevant to Northwest Indiana. Our mission is facilitated through a collaboration of professionals who are dedicated to the Northwest Indiana real estate industry. Welcome Home NW Indiana! Welcome Home! WelcomeHomeNWI.com is Your Home for Real Estate and Mortgage News for the Best Communities in Northwest Indiana.

More Posts - Website

  • Get your FICO Score with Score Watch® today! Click here!

Speak Your Mind

WelcomeHomeNWI.com