The table and chart give some city-to-city comparisons. With housing recovering and prices rising for the last six months we are now seeing some double-digit advances from the bottom. The biggest rebound is from the hardest hit city — Detroit. While the growth is off a very low base, the 22% rebound is impressive. The S&P/Case-Shiller Home Price index for Detroit fell to a low of 64.5 or a third less than its price 12 years ago. The rebound pushed the index up to almost 80, still a fifth below the level in 2000. Second best recovery was San Francisco where prices are up almost 21% from the bottom followed by Phoenix with prices 19% off the low. Phoenix also showed the best year-over-year gain in the last S&P/Case-Shiller release on October 30th. Click on the table for a larger image.
- Source: S&P/Case-Shiller Home Price Indices