Home Prices Stem Decline to 4.52% in June, Case-Shiller Data Shows
Tweet
Share
E-mail
The Case-Shiller 20-City Index reported house prices during the month of June decreased at a slower pace than in May.
According to data Tuesday, home prices in 20 cities fell 4.52 percent for the twelve-months ended in June, up from a 4.59 percent drop in the prior month. Economists were forecasting a 4.60 percent decline.
But with more foreclosures on the horizon, relief may still be years away.
The Case-Shiller measure is based on a three-month average, which means the June data was influenced by transactions in May and April.
Second-quarter prices fell 5.9 percent from the same period last year, up 0.1 percent sequentially when seasonal adjustments are made.
Leading the charge lower was Minneapolis, which saw an 11 percent drop. Washington area homes declined the least at just 1.2 percent.
According to data Tuesday, home prices in 20 cities fell 4.52 percent for the twelve-months ended in June, up from a 4.59 percent drop in the prior month. Economists were forecasting a 4.60 percent decline.
But with more foreclosures on the horizon, relief may still be years away.
The Case-Shiller measure is based on a three-month average, which means the June data was influenced by transactions in May and April.
Second-quarter prices fell 5.9 percent from the same period last year, up 0.1 percent sequentially when seasonal adjustments are made.
Leading the charge lower was Minneapolis, which saw an 11 percent drop. Washington area homes declined the least at just 1.2 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Construction Spending (Jun MoM) -0.1% vs 0.2% Expected
- Initial Jobless Claims 197K vs 200K Expected
- Personal Income (Jun) 0.2% vs 0.3% Expected, Spending 0.3% vs 0.4%
Create E-mail Alert Related Categories
Economic Data, Insiders' BlogRelated Entities
S&P/Case-Shiller Home Price IndexSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
