It was observed that the 10-City and 20-City composites gained 1.3% in August. Las Vegas, which lead cities with an increase of almost 3%, was followed by Detroit and Los Angeles.
"The 10-City and 20-City Composites posted a 12.8% annual growth rate," said David M. Blitzer, who is the Chairman of the Index Committee at S&P Dow Jones Indices.
"Both Composites showed their highest annual increases since February 2006. All 20 cities reported positive year-over-year returns. Thirteen cities posted double-digit annual gains. Las Vegas and California continue to impress with year-over-year increases of over 20%. Denver and Phoenix posted 20 consecutive annual increases; Miami and Minneapolis 19. Despite showing 26 consecutive annual gains, Detroit remains the only city below its January 2000 index level."
Additionally, fourteen cities showed year-over-year rate acceleration during August in comparison to last month.
