Home Price Gains Were Hot in June as Seattle Sizzled, Case-Shiller Says

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U.S. home price growth picked up steam in June as strong demand continued to buoy the market.

The S&P/Case-Shiller 20-city index rose a seasonally adjusted 5.7% in the three-month period ending in June, compared with a year ago, the same rate of change as in May. The national index rose 5.8%, compared with a year ago, up from a 5.7% annual increase in May.

Nine cities had stronger annual price growth in June than in May, and western metros remained on top, with annual price gains ranging from 13.4% in Seattle to 7.7% in Dallas. Seattle prices are rising so rapidly that they have left No. 2 Portland in the dust, S&P Dow Jones Indices noted in a release.

Metro	Monthly change	12-month change
Atlanta	0.6%	5.3%
Boston	0.7%	6.2%
Charlotte	0.8%	6.0%
Chicago	0.9%	3.2%
Cleveland	0.6%	2.9%
Dallas	0.8%	7.7%
Denver	0.8%	7.6%
Detroit	1.5%	7.6%
Las Vegas	1.0%	7.3%
Los Angeles	0.7%	5.6%
Miami	0.4%	5.0%
Minneapolis	1.0%	5.7%
New York	0.6%	3.9%
Phoenix	0.8%	5.8%
Portland	0.9%	8.2%
San Diego	0.9%	7.1%
San Francisco	0.7%	6.1%
Seattle	1.4%	13.4%
Tampa	0.5%	6.9%
Washington	0.7%	3.1%

The national price index reclaimed its 2006 peak last fall, but the closely watched 20-city index is still about 2.9% shy of that bubble-era peak.

Earlier in August, data provider CoreLogic released its own home price index, which showed prices rose 6.7% for the year in June. In contrast, the Case-Shiller index is a three-month rolling average of prices.

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