It’s the last Tuesday of the month, a/k/a Case-Shiller Tuesday, and the results are in for July home price trends.
All of the Chicago-area Case-Shiller indices registered their fourth consecutive month-over-month gains.
The seasonally-adjusted index for metro-area Chicago single-family homes gained .83% from the previous month and dropped year-over-year by 1.06%. This places the current index at price levels prevailing in July of 2001.
The seasonally-adjusted condo index also gained month-over-month, by .9% and fell year-over-year, by 4.89%. That index is now just below June of 2000 levels.
The not-seasonally-adjusted single-family index rose 2.72% month-over-month and fell .92% year-over-year. The condo index rose 2.33% month-over-month and fell 4.69% year-over-year.
The S&P/Case-Shiller Home Price Indices are calculated monthly using a three-month moving average and published with a two month lag.