Here’s some more information about slowing home sales throughout the United States.
The annual growth rate in prices of existing single family homes across the United States continued to decline for the 18th consecutive month in May, according to the Standard & Poor’s/Case-Shiller Home Price Index.
Overall, the top 20 cities in the index declined 2.8 percent year-over-year, although five of the cities showed increases.
How’d Boston do?
* Atlanta: 1.7 percent
* Boston: -4.3 percent
* Charlotte: 7 percent
* Chicago: -0.6 percent
* Cleveland: -2.8 percent
* Dallas: 1.8 percent
* Denver: -1.4 percent
* Detroit: -11.1 percent
* Las Vegas: -4.1 percent
* Los Angeles: -3.3 percent
* Miami: -3.3 percent
* Minneapolis: -3.5 percent
* New York: -2.3 percent
* Phoenix: -5.5 percent
* Portland: 5.7 percent
* San Diego: -7 percent
* San Francisco: -3.4 percent
* Seattle: 9.1 percent
* Tampa: -6.7 percent
* Washington, D.C.: -6.3 percent
Now, I’m not arguing the data.
However, it is important to note some deficiencies.
The Case-Shiller index only counts resales; it doesn’t include new home sales. Also, it only includes single-family homes; it doesn’t include condominium sales.
Just an FYI.
Source: Home Values for the Top 20 Markets – Realtor.org
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