Case-Shiller Home Price Index – August 2011
The latest release of Standard & Poor’s Case-Shiller report continues to reflect the strength of the Washington, DC real estate market. With the highest increase of the 20 cities monitored, DC rose 1.6% from July to August. With half of the 20 markets increasing month over month, many are speculating that a double dip in the housing market is likely not going to occur. Nationwide and local data, like the Case-Shiller report, give those buyers on the sidelines a reason to move forward with their home purchase. Today’s extremely low interest rates are also making it more difficult to sit this opportunity out.
Chicago and Detroit were also very strong from July to August increases at 1.4% each. With good news for Washington, DC, all is not as bright in Atlanta and Los Angeles with -2.4% and -.4% respectively.
When we compare August 2010 to August 2011, once again, Washington and Detroit are the two positive markets with .3% and 2.7% increases.
For more details on this release check out this USA Today article.
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