Home Price Gains Were Hot in June as Seattle Sizzled, Case-Shiller Says
Home Price Gains Were Hot in June as Seattle Sizzled, Case-Shiller Says
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U.S. home price growth picked up steam in June as strong demand continued to buoy the market.
The S&P/Case-Shiller 20-city index rose a seasonally adjusted 5.7% in the three-month period ending in June, compared with a year ago, the same rate of change as in May. The national index rose 5.8%, compared with a year ago, up from a 5.7% annual increase in May.
Nine cities had stronger annual price growth in June than in May, and western metros remained on top, with annual price gains ranging from 13.4% in Seattle to 7.7% in Dallas. Seattle prices are rising so rapidly that they have left No. 2 Portland in the dust, S&P Dow Jones Indices noted in a release.
| Metro | Monthly change | 12-month change |
| Atlanta | 0.6% | 5.3% |
| Boston | 0.7% | 6.2% |
| Charlotte | 0.8% | 6.0% |
| Chicago | 0.9% | 3.2% |
| Cleveland | 0.6% | 2.9% |
| Dallas | 0.8% | 7.7% |
| Denver | 0.8% | 7.6% |
| Detroit | 1.5% | 7.6% |
| Las Vegas | 1.0% | 7.3% |
| Los Angeles | 0.7% | 5.6% |
| Miami | 0.4% | 5.0% |
| Minneapolis | 1.0% | 5.7% |
| New York | 0.6% | 3.9% |
| Phoenix | 0.8% | 5.8% |
| Portland | 0.9% | 8.2% |
| San Diego | 0.9% | 7.1% |
| San Francisco | 0.7% | 6.1% |
| Seattle | 1.4% | 13.4% |
| Tampa | 0.5% | 6.9% |
| Washington | 0.7% | 3.1% |
The national price index reclaimed its 2006 peak last fall, but the closely watched 20-city index is still about 2.9% shy of that bubble-era peak.
Earlier in August, data provider CoreLogic released its own home price index, which showed prices rose 6.7% for the year in June. In contrast, the Case-Shiller index is a three-month rolling average of prices.
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