Housing rebound measured in major cities

According to data through June 2012 released by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, the second quarter of 2012 ended with positive annual housing growth rates for the first time since Summer 2010.

The national composite was up 1.2 percent in the second quarter of 2012 versus the second quarter of 2011, and was up 6.9 percent versus the first quarter of 2012. The 10- and 20-City Composites posted respective annual returns of +0.1 percent and +0.5 percent in June 2012.

Month-over-month, average home prices in the 10-City Composite were up 2.2 percent and in the 20-City Composite were up 2.3 percent versus May. For the second consecutive month, all 20 cities and both Composites recorded positive monthly gains. Eighteen of the 20 Metropolitan Statistical Areas and both Composites posted better annual returns in June as compared to May 2012—only Charlotte and Dallas saw a deceleration in their annual rates. PR