Home prices continue rise for sixth straight month: S&P/Case Shiller

TRD New York /
Nov.November 27, 2012 11:00 AM

U.S. home prices rose for the sixth consecutive month in September, according to the S&P/Case Shiller Home Price Index released today, but New York City was one of only two markets where home prices declined year-over-year.

The national composite of home prices gained 3.6 percent year-over-year from the third quarter of 2011, returning to levels seen in mid-2003. “With six months of consistently rising home prices, it is safe to say that we are now in the midst of a recovery in the housing market,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices, the publisher of the index.

Average homes prices for the 20-city composite, which looks at 20 urban markets in the U.S., increased 3 percent over the third quarter of last year, and inched up 0.3 percent month-over-month between September and August.

However, New York City saw a 2.3 percent price decline year-over-year. Chicago was the other city to see a year-over-year decline in September, decreasing 1.5 percent. Year-over-year, Phoenix saw the highest annual gain in prices — a 20.4 percent jump from September 2011. — Zachary Kussin


Related Articles

arrow_forward_ios
Home sales plunged across South Florida in Q2

Home sales plunged across South Florida in Q2

Home sales plunged across South Florida in Q2
(iStock)

Here’s where resi prices fell the most in Miami in Q2

Here’s where resi prices fell the most in Miami in Q2
Clockwise from right: Hong Kong; Columbo, Sri Lanka; and Zagreb, Croatia (Credit: Wikipedia, iStock)

The best real estate markets on earth over the last decade

The best real estate markets on earth over the last decade
Home buyers have for decades been advised to never put a less than 20 percent down payment on a house, but 70% of young home-buyers are willing to break that rule this year (Credit: iStock)

Millennials are ready to break the golden rule of home-buying

Millennials are ready to break the golden rule of home-buying
Keeping lawns freshly cut and outdoor spaces in tip-top shape could result in greater rewards for sellers. (Credit: iStock, IMDB)

Curb your enthusiasm: Homes with spruced-up outsides sell at premium

Curb your enthusiasm: Homes with spruced-up outsides sell at premium
Seattle, Washington (Credit: iStock)

Good luck buying an affordable home in these US cities

Good luck buying an affordable home in these US cities
Home prices are on the rise, and homeowners are opting to stay in their homes longer (Credit: iStock)

Home prices accelerate nationally as owners stay longer

Home prices accelerate nationally as owners stay longer
The Mountain States saw the fastest home-price growth of any region (Credit: iStock)

Millennials head west for housing, and institutional investors follow

Millennials head west for housing, and institutional investors follow
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...