March Case Shiller Numbers Release Tuesday Mostly Negative
The Standard and Poors Case-Shiller Home Price Indices for March were released on Tuesday. The index for the Tampa market dropped .1% for the month, Miami was down .9% and the 10 market national composite index dropped .4%.
Once again the Mid-West markets led to the downside with Chicago being down 2.3%, Detroit down 4.1% (Detroit home prices are now 33% lower than they were on January 1, 2000), Minneapolis down 2.7%. The only anomaly was Cleveland which actually saw home prices increase 1.8% during the month.
All of the gainers were in the west or south west (except for the aforementioned Cleveland) - San Diego was up 1.5%, San Francisco up 1.5%, Denver up .6%, Dallas up .4%, and Seattle up .1%.