Home Prices In 7 Out Of 20 Cities Are Above Pre-Crisis Highs by Gavekal Capital Blog
S&P/Case-Shiller Home Price Index showed a 0.8% MoM gained in June and is 5.1% higher YoY%. Prices in all 20 cities in the index are higher on a 1-month, 3-month, and 12-month basis.
Importantly, the number of cities that are surpassing previous higher watermarks is increasing. About a year ago, only three cities were above its pre-financial crisis high. As of June 2016, seven cities have surpassed previous peak prices.
This Tiger Cub Giant Is Betting On Banks And Tech Stocks In The Recovery
The first two months of the third quarter were the best months for D1 Capital Partners' public portfolio since inception, that's according to a copy of the firm's August update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more According to the update, D1's public portfolio returned 20.1% gross Read More
Denver real estate, where our office is located, continues to be on a tear higher. Denver home prices according to S&P/Case-Shiller are nearly 30% above 2006 highs. Dallas housing prices are there as well as they have gained nearly 28%. House prices in Portland, San Francisco, Seattle, Charlotte, and Boston are all at least 2.5% higher than previous highs. San Francisco has made the biggest rebound from trough housing prices. House prices in San Francisco are 94% higher than they were on March 2009. NYC has seen the worst recovery from the housing crisis lows. NYC house prices are just 16% higher than they were on March 2012. Cleveland has had the second worst recovery as home prices there have only gained by 19% since February 2002. Prices in the other 18 cities have all recovered by at 30% from financial crisis lows.