The August S&P/Case-Shiller Housing numbers were released this morning to little fanfare. Some investors were looking for a few cities to show year-over-year increases in median home prices, but for now they'll have to wait until the September numbers come out.
Prices continue to bounce nicely off of their lows, however. Only Las Vegas and Seattle traded at their multi-year lows in August, while the rest of the cities analyzed have bounced. The composite 10- and 20-city indices have now bounced 5% off of their lows, while three cities (Cleveland, San Francisco, and Minneapolis) are now up more than 10%. Prices in New York and Miami are only up 3%, while Boston, Chicago, and Washington DC are up about 7%-8%.
On a year-over-year basis, Dallas, Denver, Cleveland, and Boston are the closest to showing year-over-year gains, while Las Vegas is down the most YoY at -30%. The composite indices are still down 11% versus August 2008 prices.
Below we highlight historical charts of the year-over-year percentage change in median home prices for the 20 cities and 2 composite indices that Case-Shiller tracks.