Washington Post [Excerpts]
August 28, 2012
The three composites measured by the Standard & Poor’s/Case-Shiller home price index all increased for the first time since the summer of 2010. The national composite climbed 1.2 percent compared to the second quarter of 2011. The 10-city composite rose 0.1 percent during the same time period, and the 20-city composite edged up 0.5 percent. According to the report, home prices nationally are back to their early 2003 levels.
“Case-Shiller’s June numbers further affirm what other indices have already been showing, namely that the overall market is healing, albeit at a frustratingly slow pace,” Stan Humphries, chief economist at Zillow, said in a statement.
“Overall, the period of sustained home value declines is behind us…”