Housing Prices Tick Upwards Nationally
New housing price data out from S&P/Case-Shiller showed a tiny 0.7% uptick in housing prices across the nation, the first monthly gain in more than eight months, according to a report from Brian Turner at the Advisory Services Group.
Thirteen of the cities in the analytical set showed monthly price increases for April. Six showed declines.
Nationally, home prices now are at levels last seen in the summer of 2003. Prices are down 32.8% from the June/July 2006 peak.
Pacing the uptick in prices were Washington, DC, San Francisco, and Atlanta. Detroit - with a drop in price of 2.9% - led the losers.
Only Washington, D.C., showed a one-year price increase. The “best of the worst” among the rest, according to Turner’s analysis, were Los Angeles (-2.1%), New York (-2.8%), and Atlanta (-3.5%).