National home prices are continuing to exhibit seasonal strength, according to the S&P/Case-Shiller Home Price Indices’ data through July, released today. This marks the fourth consecutive month of increases for 10- and 20-city composites, with both up 0.9 percent in July over June. Both indices are back to their summer 2003 levels.

“With July’s data, we are seeing not only anticipated monthly increases, but some fairly broad improvement in the annual sales rates of change in home prices,” said David Blitzer, chairman of the index committee. “This is still a seasonal period of stronger demand for houses, so monthly price increased are expected and were seen in 17 of the 20 cities [in the report].” – Katherine Clarke [more]

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U.S. home prices improved for the ninth straight month in October, according to Standard & Poor’s data from the S&P/Case-Shiller Home Price Indices released this morning, but the pace of recovery is flattening (click here for the full report). On average, prices have returned to their Fall 2003 levels; the 10-city composite is down 29.8 percent off its peak in the second quarter of 2006 and the 20-city composite is down 29 percent. The composites were down 6.4 and 7.3 percent year-over-year. In New York, prices stayed flat month-over-month, but saw a 7.7 percent decline since October of last year. “The turn-around in home prices seen in the spring and summer has faded…this report should be described as flat,” said David Blitzer, chairman of the Index Committee at Standard & Poor’s. “Coming after a series of solid gains, these data are likely to spark worries that home prices are about to take a second dip.” TRD [more]

Prices of existing single-family homes nationwide showed record declines last year, according to S&P/Case-Shiller Home Price Indices. The December report, released today, shows that in the fourth quarter, home prices fell 18.2 percent compared to the same period in 2007, the largest drop in the past 21 years. Since the data does not include condo or co-op units, the report primarily reflects home prices in the outer boroughs, Westchester County, Connecticut and New Jersey. In New York, the report found, home prices were down 9.2 percent in the fourth quarter compared to the prior year. And between November and December 2008, prices fell 1.7 percent. TRD [more]