Everywhere but Washington: Case Shiller data show Washington is the only place in the country where home prices are improving


All the cities show continuing monthly declines.  Everything but Washington shows monthly and YOY declines.  Year-on-year, declines for Phoenix, Detroit, Portland, Minneapolis and Chicago are in the high single digits. These data, don't really inspire optimism. Via S&P:

Data through January 2011, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show further deceleration in the annual growth rates in 13 of the 20 MSAs and the 10- and 20-City Composites compared to the December 2010 report. The 10-City Composite was down 2.0% and the 20-City Composite fell 3.1% from their January 2010 levels. San Diego and Washington D.C. were the only two markets to record positive year-over-year changes. However, San Diego was up a scant 0.1%, while Washington DC posted a healthier +3.6% annual growth rate. The same 11 cities that had posted recent index level lows in December 2010, posted new lows in January.
January 2011     MOM     YOY
AZ-Phoenix      -1.51% -9.14%
CA-Los Angeles  -0.65% -1.79%
CA-San Diego    -1.22%  0.05%
CA-San Fran     -1.95% -1.67%
CO-Denver       -1.10% -2.28%
DC-Washington    0.10%  3.58%
FL-Miami        -1.26% -4.73%
FL-Tampa        -1.04% -6.99%
GA-Atlanta      -0.44% -6.96%
IL-Chicago      -1.76% -7.46%
MA-Boston       -0.30% -0.61%
MI-Detroit      -1.71% -8.10%
MN-Minneapolis  -3.43% -7.62%
NC-Charlotte    -1.11% -4.83%
NV-Las Vegas    -0.25% -4.42%
NY-New York     -0.88% -2.97%
OH-Cleveland    -0.85% -3.80%
OR-Portland     -1.76% -7.80%
TX-Dallas       -0.52% -2.75%
WA-Seattle      -2.37% -6.67%
Composite-10    -0.90% -2.04%
Composite-20    -1.04% -3.06%

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