San Francisco Leads Major Cities In Home Price Increase
The Standard & Poor's/Case-Shiller 20-city home price index released Tuesday posted a 0.6 percent increase in July from June and was up 3.2 percent from a year ago. Twelve cities showed monthly gains. Seven recorded declines. Cleveland's prices were flat.
San Francisco was the only city surveyed that has seen a double digit increase over the past year. San Diego and Los Angeles were among the other top performing markets.
Home sales were boosted by now-expired tax credits. The housing market has weakened since and price declines are expected in many markets into next year.
Here's a look at how the cities in the index performed compared with a month earlier and a year earlier.
— San Francisco: Up 0.5 percent from June, up 11.2 percent from last year.
—Atlanta: Up 0.2 percent from June, down 0.2 percent from last year.
—Boston: Up 0.6 percent from June, up 2.8 percent from last year.
—Charlotte, N.C. : Down 0.2 percent from June, down 3.5 percent from last year.
—Chicago: Up 1.0 percent from June, down 1.7 percent from last year.
—Cleveland: Unchanged from June, down 0.6 percent from last year.
—Dallas: Down 0.3 percent from June, down 0.4 percent from last year.
—Denver: Down 0.4 percent from June, down 0.1 percent from last year.
—Detroit: Up 1.6 percent from June, up 1.3 percent from last year.
— Las Vegas, down 0.8 percent from June, down 4.9 percent from last year.
—Los Angeles: Up 0.3 percent from June, up 7.5 percent from last year.
—Miami: Up 0.7 percent from June, up 0.4 percent from last year.
—Minneapolis: Up 0.8 percent from June, up 6.4 percent from last year.
—New York: Up 1.3 percent from June, up 0.6 percent from last year.
— Phoenix: Down 0.6 percent from June, up 3.4 percent from last year.
—Portland, Ore.: Down 0.3 percent from June, down 1.2 percent from last year.
—San Diego: Up 0.7 percent from June, up 9.3 percent from last year.
— Seattle: Up 0.1 percent from June, down 1.6 percent from last year.
— Tampa, Fla.: Down 0.2 percent from June, down 3.2 percent from last year.
— Washington: Up 1.1 percent from June, up 6.5 percent from last year.
