Tuesday, October 27, 2009

Case-Shiller Shows House Price Advance

The market value of U.S. homes in 20 major cities rose by 1.2% in August compared with July, the fourth monthly increase in a row, according to the Case-Shiller home price index released today. Remember, this was done with temporary government support for the housing market through the Federal First-Time Buyer’s Tax Credit. It will be removed slowly or over-time

In August, prices rose in 17 of 20 cities. Only Charlotte, Cleveland and Las Vegas recorded month-to-month declines.

The figures are not seasonally adjusted. Prices typically rise in the summer months when demand is stronger.

Prices are down 29.3% from the peak.

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