S&P/Case-Shiller home price numbers for the month of February were released today, and below we provide updated charts and tables highlighting the data.
With the exception of four cities (Cleveland, Las Vegas, Boston, Chicago), home price rose month over month in February. San Francisco saw the biggest jump at 2%, followed by Denver at +1.42%. Year-over-year, all 20 cities tracked by Case-Shiller were up, and the 10-city and 20-city composite indices saw year-over-year gains of roughly 5%. The biggest year-over-year gainers were San Fran, Denver, Miami and Dallas. D.C, Cleveland and New York saw the smallest year-over-year gains.
Below is a look at the gains that home prices have seen across the U.S. from their low points during the housing bust/financial crisis. As shown, the composite indices are up roughly 30%, while San Fran is up a whopping 70%. Vegas and Detroit are both up 50%+, while Miami, San Diego, L.A. and Atlanta are up 40%+. Cleveland and New York have seen the smallest increases off their lows at just over 10%.
Below is a look at current home prices in relation to their all-time highs during the housing boom prior to the financial crisis. As shown, the two composite indices are now roughly 16% from their all-time highs. Six cities are now within 10% of their highs — San Francisco, Portland, Charlotte, Boston, Denver and Dallas. Denver and Dallas have actually already taken out their prior highs. Four cities still remain more than 30% below their all-time highs — Las Vegas, Phoenix, Tampa and Miami. Vegas is by far the farthest away from its highs at 42%.
For reference, below are historical home price charts of the 20 S&P/Case-Shiller cities going back to 1989: