Data through April 2011 show a monthly increase in home prices for the 10- and 20-City Composites for the first time in eight months, according to the S&P/Case-Shiller Home Price Indices. The 10- and 20-City Composites rose 0.8 percent and 0.7 percent, respectively, in April compared with March. Both indices are lower than a year ago; the 10-City Composite declined 3.1 percent and the 20-City Composite is down 4 percent from April 2010 levels.
As of April 2011, average home prices nationwide are back to the same levels as in the summer of 2003. Measured from their peaks in June/July 2006 through April 2011, the peak-to-current declines for the 10-City Composite and 20-City Composite are -32.6 percent and -32.8 percent, respectively. From their April 2009 troughs, the 10-City Composite has risen 1.4 percent and the 20-City Composite is up a scant 0.7 percent.
Reprinted from C.A.R. Newsline
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