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Case-Shiller: Home Prices Rise for Third Straight Month

  • October 27th 2009

by Mark Wellborn

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The Case-Shiller Home Price Index included hopeful data about the national housing market. The two key takeaways are:

Across the 20 major metropolitan markets measured by Case-Shiller, home prices rose from July to August. Prices rose approximately 1 percent in August, above the estimate of a 0.7 percent increase that was predicted via a poll from Reuters. While the increase is encouraging it was less than the 1.6 percent from July.

August marks the third month in a row that home prices have increased overall, which is strong evidence that prices are stabilizing. To be clear, major metropolitan areas are still posting price declines. In fact, 12 of the 20 measured markets are still reporting double-digit declines. But the latest index also shows a significant turnaround with prices rising month-over-month in many metro areas since June.

As for Washington, DC, August was the third month in a row that our area saw slight appreciation (1.4 percent). Following are the numbers for all 20 cities:

Case-Shiller: Home Prices Rise for Third Straight Month: Figure 1

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/case-shiller_home_prices_rise_for_third_straight_month/1453.

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