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In August 2012, 19 MSAs and both Composites posted positive monthly gains. Seattle was the only city with a negative monthly return of -0.1%. Cleveland and Las Vegas were the only two cities with stronger monthly returns in August versus June. Cleveland posted a +1.0% month-over-month change in August as compared to +0.4% in July. Las Vegas had a monthly increase of 1.6% in August, an improvement over the +0.7% in July. The remaining 18 cities and two Composites had lower monthly returns in August versus July.

Atlanta, Detroit and Las Vegas continued to post average home prices below their January 2000 levels. With an index level of 194.00, Washington DC is the city showing the biggest increase in average home prices since January 2000.

The table below summarizes the results for August 2012. The S&P/Case-Shiller Home Price Indices are revised for the 24 prior months, based on the receipt of additional source data. More than 25 years of history for these data series is available, and can be accessed in full by going to www.homeprice.standardandpoors.com.

August 2012 August/July July/June

Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)

----------------- ----- --------- --------- ----------------

Atlanta 95.80 1.8% 2.6% -6.1%

Boston 158.27 0.7% 1.8% 1.7%

Charlotte 116.58 0.6% 0.7% 2.8%

Chicago 117.45 0.7% 2.7% -1.6%

Cleveland 103.04 1.0% 0.4% 1.1%

Dallas 121.34 0.1% 0.9% 3.6%

Denver 133.48 0.5% 1.3% 5.5%

Detroit 79.18 2.3% 3.6% 7.6%

Las Vegas 96.04 1.6% 0.7% 0.9%

Los Angeles 173.02 1.3% 1.3% 2.1%

Miami 150.12 1.0% 2.1% 6.7%

Minneapolis 124.65 1.2% 3.7% 7.4%

New York 166.32 0.7% 1.1% -2.3%

Phoenix 119.28 1.8% 2.2% 18.8%

Portland 140.80 0.5% 1.2% 3.6%

San Diego 157.84 0.9% 1.1% 1.9%