S&P/Case-Shiller® June Home-Price Index

The S&P/Case Shiller® composite index for the month of June was released today.

"'This month’s report showed mixed signals for recovery in home prices. No cities made new lows in June 2011, and the majority of cities are seeing improved annual rates. The National Index was up 3.6% from the 2011 first quarter, but down 5.9% compared to a year-ago,' says David M. Blitzer, Chairman of the Index Committee at S&P Indices. 'Looking across the cities, eight bottomed in 2009 and have remained above their lows. These include all the California cities plus Dallas, Denver and Washington DC, all relatively strong markets. At the other extreme, those which set new lows in 2011 include the four Sunbelt cities – Las Vegas, Miami, Phoenix and Tampa – as well as the weakest of all, Detroit. These shifts suggest that we are back to regional housing markets, rather than a national housing market where everything rose and fell together.'

'As with May’s report, June showed unusually large revisions across the same MSAs – Detroit, New York, Tampa and Washington DC. Our sales pairs data indicate that, once again, these markets reported a lot more sales closing in prior months, which caused the revisions.'"

You can see the prior data we had in the post for May's CS numbers on this blog. The price gains have been adjusted downward.

Northern Virginia Bits Bucket 8/30/2011

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Northern Virginia Bits Bucket 8/26/2011

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Nasty: "Q2 real GDP growth revised down to 1.0% annualized rate" (h/t Calculated Risk for the chart):

Northern Virginia Bits Bucket 8/23/2011

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Northern Virginia Bits Bucket 8/19/2011

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Northern Virginia Bits Bucket 8/18/2011

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"Home sales fell 3.5 percent last month to a seasonally adjusted annual rate of 4.67 million homes, the National Association of Realtors said Thursday. That's far below the 6 million that economists say must be sold to sustain a healthy housing market.

And this year's pace is lagging behind last year's total sales. The 4.91 million last year were the weakest sales figures in 13 years."

Northern Virginia Bits Bucket 8/11/2011

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Northern Virginia July Housing Sales

Northern Virginia's July 2011 housing sales were up a hair -- 0.2% YoY, and median prices were up 1.3%. The average days on the market increased by 4% to 50 days.

(The above statistics include Alexandria City, Arlington County, Fairfax City, Fairfax County, Falls Church City, Fauquier County, Loudoun County, Manassas City, Manassas Park City, and Prince William County).

Also, as of August 3, VirginiaMLS.com Realty shows total listings at 8,121, compared to 8,566 in the prior year.

Northern Virginia Bits Bucket 8/8/2011

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Northern Virginia Bits Bucket 8/5/2011

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Megan McArdle on refinancing. There are super-low rates right now, but it helps if you are in a position to buy or refinance. So many are still not.

Northern Virginia Bits Bucket 8/3/2011

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They wanted $419K, but after well over a year, they settled for $250K. And the county still has it assessed for $497K. I think the exurban county assessors are in for another rude awakening. This has not been a great summer for prices in the farmland counties.

The property is between a highway and a railroad track, so that high assessment in the first place is a little astounding, but unsurprising.

Northern Virginia Bits Bucket 8/1/2011

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