Light at the End of the Tunnel (and It’s Not Another Train)

May 2010 Case-Shiller Home Price Series Indicates Most Markets Coming Off the Bottom — A Few Markets Gaining Double

The majority of the 20 cities included in the S&P Case-Shiller Home Price Indices are showing gains off the bottom in May.  Three cities, San Diego, San Francisco and Minneapolis all reported year-over-year gains of more than 10 percent (but still remain 34.8 percent, 34.9 percent and 28.3 percent, respectively, below their market peaks).  Only one city has a home price index less that January 2000, and that was Detroit. 

Remember that the methodology of the Case-Shiller is based on re-sales of the same property (so it really is a superior measure to medians or average prices).

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