20 city s p case shiller index
At the same time, days on market improved with homes languishing 118 on average, down from 121 in February and 124 in January. [1]
New York metro area housing prices dropped 6.9 percent in August from a year ago, the Standard & Poor’s/Case-Shiller home-price index reported today. [2]
You can follow any responses to this entry through the RSS 2.0 feed. [3]
… the pace of monthly declines did moderate last month from July, and Boston and Cleveland showed monthly gains from July to August. [2]
(Editor’s note: The 10-city composite uses the same metro data as the S & P Case-Shiller Index for Denver, Boston, Miami, San Diego, Los Angeles, Las Vegas, Washington, DC, Chicago, New York, and San Francisco. [1]
Price declines in Las Vegas and Phoenix surpassed 30 percent in August, according to Case-Shiller, while prices in Miami, Los Angeles, San Francisco and San Diego all plunged more than 25 percent. [2]
Other cities such as Dallas are calculated separately and will be included in a future 20-city index, once again mirroring the Case-Shiller metros, says Altos. [...] Instead of waiting a long time for offers, and then allowing the buyers to beat them down to a lower closing price, they are reducing their prices up front to bring more buyers to the table. [1]
Boston, the first city to post price declines in the 20-city index starting in October 2005, has recorded five straight monthly gains in home values. [2]
What’s causing prices to drop are expanding inventories of homes for sale in all the composite cities. [1]
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The largest declines were in San Francisco (off 5.2 percent) and Las Vegas (off 5.2 percent) while southern cities Houston, Dallas, and Charlotte saw modest price increases of one percent or more for the quarter. [1]
The 20-city index reported that home prices nationwide tumbled by the sharpest annual rate ever in August, with little indication of a turnaround in sight. [2]
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The cities with the longest days on market were Miami and Detroit, both at 146 days. [1]
Sources:
[1] In the News | Cooperative Arkansas Realtors Multiple Listing Services
[2] NorthJersey.com: S&P: Home prices post 17 pct annual drop in August
[3] Case Shiller Home Price Index Third Quarter 2008 | Flat Fee MLS Blog