“Home prices continue to strengthen,” says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. “Two cities set new highs, surpassing their pre-crisis levels and five cities – Atlanta, Chicago, San Diego, San Francisco and Seattle – posted monthly gains of over three percent, also a first time event.”
This is pretty big news– to gain on a monthly basis over 3 percentage points. It appears to be approaching frenzy in a few states this summer. Blitzer did not mention the two cities which set new pre-crisis highs.
The gain for the 10-city and 20-city composite was also significant at 2.5% and 2.4%.
Though the 20-City and 10-City composites appear to be at spring 2004 levels, Portland is at July 2005 levels with a figure of 151.91. It is also sitting nicely in the middle of the pack with a yearly gain of 12.5%.
View original post 126 more words