Case-Shiller Home Price Indexes Highest Since '08

New York, August 31, 2010 – "Data through June 2010, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index rose 4.4% in the second quarter of 2010, after having fallen 2.8% in the first quarter. Nationally, home prices are 3.6% above their year-earlier levels.

In June, 17 of the 20 MSAs covered by S&P/Case-Shiller Home Price Indices and both monthly composites were up; and the two composites and 15 MSAs showed year-over-year gains. Housing prices have rebounded from crisis lows, but other recent housing indicators point to more ominous signals as tax incentives have ended and foreclosures continue.  In June, the 10-City and 20-City Composites recorded annual returns of +5.0% and +4.2%, respectively."

MP: Both the Composite-10 and Composite-20 Home Price Indexes reached their highest levels in June since December 2008.