Send Article via Email

- 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.

More from MND:

• MND NewsWire: Consumer Mortgage Choice Act Under Fire From CRL
• MBS Commentary: MBS RECAP: Reminded of Volatility via Friday Cliff-Diving
• Mortgage Rate Watch: Mortgage Rates Jump Back To Recent Highs, More Volatility Ahead
• MND NewsWire: Home Sales Would Rise 15-20 Percent With 720 FICO - NAR
• MND NewsWire: Senator on a Mission to Change the Way Short Sales Affect Credit Reporting

If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.