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ECON: Case Shiller Home Prices Stronger Than Expected
Posted to: Micro News
Tuesday, December 31, 2013 9:55 AM
- October 20-city Home Prices +1.0 vs +0.8 forecast, 1.0 previously (sept)
- Non-adjusted +0.2 vs +0.7 forecast
- +13.6 pct year-over-year vs +13.0 forecast
- Sept 20-metro area year-on-year home price increase largest since Feb 2006
Data through October 2013, 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 that the 10-City and 20-City Composites posted year-over-year gains of 13.6%. This is their highest gain since February 2006 and marks the seventeenth consecutive month that both Composites increased on an annual basis.
In October 2013, the two Composites showed a small gain of 0.2% for the month. Eighteen cities posted lower monthly rates in October than in September. After 19 months of gains, San Francisco showed a slightly negative return. Phoenix held onto its streak and posted its 25th consecutive increase.
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