The S&P/Case-Shiller housing price numbers for September are set to be released tomorrow morning, and the big question is whether or not we'll see a year-over-year increase in home prices in any of the 20 cities that Case-Shiller tracks.
Below we highlight the home price levels of the 20 cities and two composite indices in September 2008 and August 2009. August numbers were the last ones released since there is a two-month lag in the data. As shown, Dallas and Denver are the closest to showing a year-over-year increase in prices, as both were down less than 1% from 9/08 to 8/09. Both cities need to register very small month-over-month gains to see a year-over-year increase. If either of them turn positive tomorrow, the financial media will likely jump all over it.