S&P Releases its latest Case-Shiller indices for April 28, 2015
New York, April 28, 2015 – S&P Dow Jones released the latest results for the S&P/Case-Shiller Home Price Indices today. The data is lagging the market by three months so this is current as of February 2015 but it does show that home prices in the country continued their rise over the last 12 months. San Francisco and Denver experienced the highest year-over-year gains with prices increasing over the last 12 months by 9.8% and 10%, respectively.
This is a quote from their analysis:
“Home prices continue to rise and outpace both inflation and wage gains,” said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “The S&P/Case-Shiller National Index has seen 34 consecutive months with positive year-over-year gains; all 20 cities have shown year-over-year gains every month since the end of 2012. While prices are certainly rebounding, only two cities – Denver and Dallas – have surpassed their housing boom peaks.
The San Francisco MSA (which consists of the counties of San Francisco, Marin, San Mateo, Contra Costa and Alameda), while experiencing a slowdown in the rate of appreciation (by almost half), nevertheless still enjoyed a 12.9% increase year-over-year. We put together a graph of the SF MSA data points illustrating the trend over the past 27 years.
*Note—the Standard & Poor’s Index lags the market by three months.
Drew & Christine Morgan are REALTORS/NOTARY PUBLIC in Belmont, CA. with more than 20 years’ experience in helping sellers and buyers in their community. They may be reached at (650) 508.1441 or emailed at firstname.lastname@example.org.
The information contained in this article is educational and intended for informational purposes only. It does not constitute real estate, tax or legal advice, nor does it substitute for advice specific to your situation. Always consult an appropriate professional familiar with your scenario.