See How U.S. Home Prices Have Changed

Published Jun 26, 2008 | RSS Feed

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Home prices have declined steadily since 2006. See exactly how far home prices have fallen with this 20-year look at price trends in the largest U.S. cities.

BY BAILEY HARRIS

Historical Home Price Trends

The S&P/Case Shiller Home Price Indices have been measuring the average change in single-family home prices since 1987. These indices are thought to be the best indicators of home price trends in the United States.

Ten of the cities that have been tracked since 1987 include: Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco and Washington D.C.

The indices have reported a lot of ups and downs in these cities. Home prices soared especially high between 2002 and 2005. The average median home price increase in the 10 cities was nearly 75 percent during this three year period.

Of course, prices have been falling since 2006. Between April 2006 and April 2008, the average median home price fell nearly 42 percent in the 10 cities mentioned above. Prices are expected to decline further in most cities, including Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco and Washington D.C.

The Most Recent Home Price Trends

According to the most recent S&P/Case-Shiller Housing indices, home prices are still falling in most metropolitan areas. Median home prices fell an average of 15.30 percent in the 20 largest U.S. cities.

Month over month increases were recorded in some areas of the nation, including Cleveland, Dallas and Denver, but the positive numbers are being attributed to seasonal changes versus actual improvement in the housing market.

City	Month over Month % Chg	Year over Year % Chg
Cleveland	2.94	-6.77
Dallas	1.12	-3.60
Denver	0.83	-4.72
Seattle	0.72	-4.93
Portland	0.28	-4.73
Charlotte	0.23	-0.12
Boston	0.09	-6.44
Chicago	0.06	-9.30
Atlanta	-0.34	-7.51
Washington DC	-0.56	-14.71
New York	-1.35	-8.37
Detroit	-1.86	-16.76
Las Vegas	-2.02	-26.81
Tampa	-2.06	-20.36
Minneapolis	-2.14	-15.50
Los Angeles	-2.22	-23.10
San Francisco	-2.23	-22.15
San Diego	-2.63	-22.38
Phoenix	-3.38	-24.98
Miami	-4.05	-26.73
20-City Composite	-1.34	-15.30

Source: S&P Indices

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