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City-by-city look at U.S. house prices, as Denver surge continues


10-28-2015

Economic Report

City-by-city look at U.S. house prices, as Denver surge continues

Denver, San Francisco both sport gains of over 10% over 12 months

By 

D.C. bureau chief
 
Bloomberg
A sign in the lawn indicating that this previously owned home is for sale in Denver.

Here’s a city-by-city look at U.S. house prices, after the S&P/Case-Shiller 20-city composite showed a 0.4% advance in home prices during August, to stretch year-on-year gains to 5.1%.

The list is drawn from the cities in the index, which doesn’t include some major metropolitan areas including Houston and Philadelphia.

City Monthly change Yearly change
Atlanta 0.2% 5.6%
Boston 0.4% 4.6%
Charlotte 0% 4.9%
Chicago 0.7% 1.9%
Cleveland 0.1% 2.9%
Dallas 0.8% 8.9%
Denver 0.9% 10.7%
Detroit 0.6% 5.3%
Las Vegas 0.3% 6%
Los Angeles 0.1% 6.2%
Miami 0.4% 7.4%
Minneapolis 0.3% 3.5%
New York 0.5% 1.8%
Phoenix 0.6% 4.9%
Portland 1.1% 9.4%
San Diego 0.3% 5.9%
San Francisco -0.1% 10.7%
Seattle 0.3% 7.6%
Tampa 0.5% 6.1%
Washington 0.2% 1.9%

• Eighteen out of 20 cities reported monthly gains. That’s not unusual for the summer, and after seasonal adjustment, five were down, 11 were up, and four were unchanged.

• The report notes that, when adjusted for inflation, prices now are rising almost as quickly as they did during the 2005-2006 boom. One difference is the current growth is more about restricted supplies than overflowing demand.

• Compared to Aug. 2014, Denver and San Francisco have the fastest growth at 10.7%; New York, Chicago and Washington D.C. each have growth of under 2%.

• The Case-Shiller index combines three months of data, so in the August report, transactions included those in June and July.

• The Federal Housing Finance Agency’s home price index said prices rose 5.5% over the preceding 12 months, while CoreLogic said prices grew 6.9% over the same time period.

www.marketwatch.com

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