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FRIDAY, NOVEMBER 27, 2009
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Home Prices Rise for 3rd Month

Case-Shiller index shows modest 1.6% increase in June

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(Newser) – In another sign the housing market is stabilizing, home prices climbed 1.6% in July, the third consecutive month they have risen, according to the S&P Case-Shiller home-price index of 20 major cities. Though they're down 13.3% compared with this time last year, the year-over-year declines still beat expectations. Las Vegas and Seattle were the exceptions to the increases, the Wall Street Journal notes.

Charts show change in home price index for 20 cities
Charts show change in home price index for 20 cities
In this June 24, 2009 photo, a house for sale in San Francisco. US home prices rose for the third month in a row in June, according to the Case-Shiller index.
In this June 24, 2009 photo, a house for sale in San Francisco. US home prices rose for the third month in a row in June, according to the Case-Shiller index.   (AP Photo/Jeff Chiu)
In this Sept. 11, 2009 photo,a pending sale is shown in Wayland, Mass. A government index shows home prices rose slightly in July from June, further evidence the housing market is stabilizing.
In this Sept. 11, 2009 photo,a pending sale is shown in Wayland, Mass. A government index shows home prices rose slightly in July from June, further evidence the housing market is stabilizing.   (AP Photo/Bill Sikes)
Chart shows June's Case-Shiller Composite 20 Home Price Index for the past 13 months
Chart shows June's Case-Shiller Composite 20 Home Price Index for the past 13 months
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3 comments
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Reader64481089
Sep 29, 09 11:21 AM CDT
What? Oh my! Cold this actually mean the steps taken to stabilize the economy by the present Administration when it was decimated by the previous Administration are actually working? What will the Republicans find next to cry about I wonder....oh well, they have a few months yet to play Chicken Little....to bad they didn't do that play 8 years or at least 4 years earlier and perhaps saved us much hardship many are now faced with Reply
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radnip
Sep 30, 09 9:41 PM CDT
I have no idea what they'll come up with but I can be sure of 2 things: It'll be insane and you couldn't make it up and be believed.
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Snowleopard
Sep 29, 09 6:08 PM CDT
this is a dead cat bounce, largely from all the people spurred to buy a home with the 8,000 tax credit (which was a good idea) that they think is expiring in december. In december they'll extend this tax credit for another year, but the market will start dropping again, since all the people who were going to buy will have already bought by that time. it differs from market to market, but I'll waiting until about quarter three of next year to buy. Reply
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