Home values went nowhere but up, up, up, in August, according to the latest Standard & Poor’s Case-Shiller Home Price Indices. For the first time in years, home values in Chicago and in Case-Shiller’s 10-city and 20-city indices rose overall and after seasonal trends were taken into account. (Until August, it seemed like many of the gains were offset by small, seasonally adjusted declines.)
Listed below are the changes in home value from August 2008 to August 2009, as well as changes from July ‘09 to August ‘09 and May ‘09 to August ‘09 (with seasonally adjusted values in parentheses). The percentage off of each market’s peak value is also listed.
Chicago overall home values
- Month-to-month: +1.7% (+1.2%)
- Quarter-on-quarter: +5.6% (+3.9%)
- Year-over-year: -12.7%
- Off peak: -22.6 %
Chicago condo values:
- Month-to-month: +1.1% (+0.7%)
- Quarter-on-quarter: +1.9% (+0.8%)
- Year-over-year: -10.4%
- Off peak: -14.4%
10-city home values:
- Month-to-month:+1.3% (+1%)
- Quarter-on-quarter: +4.5% (+3.3%)
- Year-over-year: -10.6%
- Off peak: -30.2%
20-city home values:
- Month-to-month: +1.2% (+1%)
- Quarter-on-quarter: +4.3% (+3%)
- Year-over-year: -11.3%
- Off peak: -29.3%
Case-Shiller’s 10-city index calculates values from the Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York City, San Diego, San Francisco, and Washington, D.C., metro areas. The 20-city index comprises those areas, plus the Atlanta, Charlotte, Cleveland, Dallas, Detroit, Minneapolis, Phoenix, Portland, Seattle, and Tampa metro areas.