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Tag Archives: Estately.com

Case-Shiller: Home Prices Show Seasonal Strength, Down From Last Year

Even with a seasonal uptick in the month of July, home prices are falling short of their levels a year earlier, according to data released Tuesday morning by Standard & Poor's. Both the 20-city and 10-city composite readings of the S&P/Case-Shiller index rose 0.9 percent between June and July, but were down 4.1 percent and 3.7 percent, respectively, when compared to July 2010. Washington, D.C. and Detroit were the only metropolitan areas to buck the annual trend.

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Existing-Home Sales Jump Nearly 19% From Last Year

Last month's 18.6 percent surge in existing-home sales from a year earlier had some market observers doing a double-take, but Galen Ward, who runs a real estate brokerage web site, says it wasn't unexpected. Michael Simonsen of Altos Research says anything is going to look good coming off the market's tax-credit hangover this time last year. But the fact that the median home price was down more than 5 percent from August 2010 at the same time sales jumped so sharply is one of the most telling stats for Clear Capital's Alex Villacorta.

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Case-Shiller: Second-Quarter Appreciation Puts Prices at Circa 2003

Home prices increased 3.6 percent over the second quarter of this year, after having fallen 4.1 percent in the first quarter, according to the latest S&P/Case Shiller index. With the second quarter's data, the national index reading recovered from the double-dip cyclical low hit at the end of the first quarter, but still posted an annual decline of 5.9 percent when compared to the second quarter of 2010. Nationally, home prices are back to their early 2003 levels, according to Standard & Poor's.

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