Case-Shiller Tuesday: More gains for home values in local, national markets

For the third straight month, home values rose slightly in Chicago and across the country, according to the new July 2009 Case-Shiller report from Standard & Poor’s. In most cases, the numbers still stay in the black when adjusted for seasonal activity, which isn’t a trend we’ve noticed until the past month or so. Although values are still down across the board year-over-year, the difference has been narrowing in the national markets and in Chicago’s home market overall.

Listed below are the changes in home value from June to July, as well as changes from April to July and July ‘08 to July ‘09 (with seasonally adjusted values in parentheses):

Chicago overall home values

  • Month-to-month: +2.7 percent (+2.1 percent)
  • Quarter-on-quarter: +4.7 percent (+3.3 percent)
  • Year-over-year: -16.5 percent (-16.6 percent)

Chicago condo values:

  • Month-to-month: +0.5 percent (-0.2 percent)
  • Quarter-on-quarter: +2 percent (+0.6 percent)
  • Year-over-year: -13.3 percent

10-city home values:

  • Month-to-month: +1.7 percent (+1.3 percent)
  • Quarter-on-quarter: +3.5 percent (+3.3 percent)
  • Year-over-year: -14.6 percent

20-city home values:

  • Month-to-month: +1.6 percent (+1.2 percent)
  • Quarter-on-quarter: +3.5 percent (+1.9 percent)
  • Year-over-year: -15.3 percent

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.

(Visited 24 times, 1 visits today)