Case-Shiller Home Price Indexes Set New Records

Here are some initial observations on today’s report from S&P/Case-Shiller on its Home Price Indexes for July and Q2:

1. The 2.3% monthly increase in the Composite-20 Home Price Index in July was the highest monthly increase in the 12-year history of that index (it started in January 2000).

2. The 2.2% monthly increase in the Composite-10 Home Price Index in July matched the 2.2% increase in May, and marked the highest monthly increase in that index since June 2004, slightly more than eight years ago.

3. The 6.9% increase in the quarterly Composite-US Home Price Index in the second quarter (compared to  Q1) was the highest quarterly increase in the 25-year history of that index going back to 1987.

MP: More evidence that the U.S. housing market has passed the bottom and is now in a period of sustainable recovery.

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About Mark J. Perry 262 Articles

Affiliation: University of Michigan

Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan.

He holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University in Washington, D.C. and an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota.

Since 1997, Professor Perry has been a member of the Board of Scholars for the Mackinac Center for Public Policy, a nonpartisan research and public policy institute in Michigan.

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