Home prices rose in second quarter:
The S&P/Case-Shiller Home Price Indices shows that all three headline
composites ended the second quarter of 2012 with positive annual growth rates
for the first time since the summer of 2010. The national composite rose 1.2
percent in the second quarter of 2012 compared with the second quarter of 2011
and was up 6.9 percent compared with the first quarter of 2012. The 10- and
20-City Composites posted respective annual returns of 0.1 percent and 0.5
percent in June 2012.
Month-over-month, average home prices in the 10-City Composite
were up 2.2 percent and in the 20-City Composite were up 2.3 percent compared
with May. For the second consecutive month, all 20 cities and both Composites
recorded positive monthly gains. Eighteen of the 20 MSAs and both Composites
posted better annual returns in June as compared with May 2012 – only Charlotte
and Dallas saw a deceleration in their annual rates.
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