Prices down in Boston, Vegas, Miami ...by
Boston was the only major metro area in the U.S. where single-family home prices fell between June 2005 and June 2006--a 1.9% decline, according to a measure released today by Standard & Poor's.
The S&P/Case-Shiller Home Price Indices come out the last Tuesday of every month. They're probably the most authoritative measure of what's happening to single-family home prices in the major markets. The latest numbers cover changes through June 2006.
In addition to having the only year-over-year decline, Boston also had the biggest one-month decline, with prices dipping 0.4% from May to June.
Miami had a one-year increase of 19.2%, the most of any major metro area, but from May to June of this year, prices actually fell 0.2%, according to the S&P/Case-Shiller Home Price Indices.
Las Vegas was up 6.3% from June 2005 but down 0.3% from May 2006.
New York was up 8.6% from June 2005 but down 0.2% from May 2006.
Los Angeles is still looking good. It was up 13% from June 2005 and up 0.4% from May 2006.