Phoenix News: Case-Shiller Index-Phoenix Home Prices Rise
The annual decline in home prices in Phoenix is always the worst in the country, but at home rose 1.1 percent in the second quarter.
New S & P / Case-Shiller price index showed that the main enclosure Phoenix, 31.6 cent over the previous year. Of the 20 largest cities, has declined only in Las Vegas even more.
But this is the good news is that the first quarter for the second quarter of this year, housing prices in Phoenix rose 1.1 percent.
Cleveland was the biggest month of rising house prices in June, 4.2 percent, followed by San Francisco (3.8 percent), Minneapolis (3.1 percent), Washington (2.8 percent) , Dallas (2.7 percent) and Boston (2.6 percent).
Both cities had a month to lower prices: Las Vegas (minus 2 percent) and Detroit (up 0.8 percent).
None of the 20 cities showed price increases this year.
In fact, home prices in Las Vegas fell 32.4 percent between June 2008 and June 2009 showed an index. Other major losers were last year, compared to Detroit (minus 25 percent), Miami (up 23.4 percent) and San Francisco (less than 22 per cent).
Indices and changes in the 20 cities in the second quarter of 2009 grew at an average of 2.9 percent over the previous quarter. This is a great improvement to the decline of 7.4 per cent of the price reported Q4 2008 and Q1 2009.
In second quarter, prices in 20 cities fell from an average of 14.9 percent a year earlier.
Nationwide, we see some positive signs, “Said David Blitzer, chairman of the Standard & Poor’s, said in a statement. … This is the first time we saw something positive in the fourth quarter improvements [over] three years.”
The index is calculated by comparing the prices are just thousands of houses in each market. Standard & Poor’s and Fiserv Inc. publish.
