Case Shiller July: Football isn’t the Only Positive for Detroit
More on Detroit a little later, suffice it to say that while the Detroit Lions have been staging quite a comeback, so has the Detroit real estate market.
While there’s still high level uncertainty in the economy and consumer confidence is shaky at best, the housing market is holding on to four straight months of overall price increases for its 10 and 20 City Composites. Both were up 0.9% in July over June.
Key July ’11 take-aways include:
* 17 of 20 key markets were up over June ’11
* Las Vegas and Phoenix were down and Denver was unchanged from June ’11
* Two markets were up versus July 2010: Detroit (1.2%) and Washington DC (0.3%). Both were up versus June 2011 too with Detroit +3.8% and Washington DC +2.4%
* Overall, the 20 key markets are down 4.1% versus July 2010 but as mentioned earlier, up 0.9% over June ’11
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Case Shiller July: Lions Not the Only Positive for Detroit
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