The July Case-Shiller home price numbers were released today, and while the year-over-year numbers are still down nearly 13% in the 10-city composite index, all cities but one (Las Vegas) are off their lows. Below we highlight the percentage change from the recent bottoms in median home prices for the 20 cities that Case-Shiller tracks.
As shown, 10 cities are doing better than the composite indices, and 10 cities are doing worse. Cleveland has seen the biggest gain in home prices off its low at +11.4%. San Francisco ranks 2nd at +9.4%, followed by Minneapolis (+9%), Dallas (+7.9%), and Denver (+7.1%). All of these are pretty big gains, and these numbers are just through July.
The composite 10-city and 20-city indices are up 3.6% from their lows. Miami, New York, Tampa, Detroit, Seattle, and Las Vegas are the six cities that have seen gains of 2% or less.