Case-Shiller U.S.National Home Price Index Rises
18 of 20 cities (including Miami and Tampa) making up the index showed a quarterly increase in the home price index. First time in three years.
Palm Coast, FL – August 25, 2009 – Miami and Tampa are the only Florida cities in Standard & Poor’s Case-Shiller U.S. National Home Price Index. They joined 16 other cities showing a rising index for the second quarter of ’09. This is the first quarter-to-quarter rise in three years. Detroit and Las Vegas were the only two cities showing a quarterly decline.
The composite index sitting at 132.64 is most closely matched by the first quarter ’03 index (130.48). So if you think your home is worth about what it was in 2003, you may be right. The C-S Index sat at 103.77 in the first quarter of 2000. The second quarter ’09 index represents about a 3% annual appreciation over nine years. The index peaked in the second quarter ’06 when it measured 189.93.
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