September 29th, 2009
Case-Shiller housing index rises in July across 18 of 20 cities
WASHINGTON (MarketWatch) — The market value of U.S. homes in 20 major cities rose by 1.6% in July compared with June, the third monthly increase in a row, according to the Case-Shiller home price index released Tuesday by Standard & Poor’s. In July, prices rose in 18 of 20 cities. In the past year, prices are down 13.3% in the 20 cities. The figures are not seasonally adjusted. The figures indicate a “stabilization in national real estate values,” said David Blitzer of S&P, who cautioned that the expiration of the first-time home buyer tax credit and increased foreclosures could put more downward pressure on prices.
