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ECON: Case-Shiller Home Prices Slightly Better Than Expected
Posted to: Micro News
Wednesday, December 26, 2012 9:09 AM
- Seasonally Adjusted 20 City +0.7 vs +0.5 Consensus
- Non-Adjusted 20 City -0.1 vs -0.2 Consensus
- No market impact
Data through October 2012, released today by S&P Dow Jones Indices for
its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, showed home prices rose
4.3% in the 12 months ending in October in the 20-City Composite, out-distancing analysts’ forecasts.
Anticipated seasonal weakness appeared as twelve of the 20 cities and both Composites posted monthly
declines in home prices in October.
The 10- and 20-City Composites recorded respective annual returns of +3.4% and +4.3% in October 2012 –
larger than the +2.1% and +3.0% annual rates posted for September 2012. In nineteen of the 20 cities, annual
returns in October were higher than September. Chicago and New York were the only two cities with negative
annual returns in October. Phoenix home prices rose for the 13th month in a row. San Diego was second best
with nine consecutive monthly gains.
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