S&P home prices rise 10.9 percent, beating expectations

New York /
May.May 28, 2013 11:30 AM

The 20-city S&P Case-Shiller house price index for March climbed 10.87% on the year. This beat expectations for a 10.2% rise.

This is also the fastest pace of increase since April 2006.

February’s number was revised up modestly to show a 9.35% rise.

On the month home prices were up 1.12%, above expectations for a 1% rise. February’s number was also revised up on a monthly basis to show a 1.32% rise.

Q1 home prices were up 10.17% on the year, beating expectations for a 9.6% rise. Q4’s number was revised down modestly to show a 7.25% rise.

Both the 10 and 20-city home price indices are about 28 – 29% off their June/July 2006 peaks.

“Phoenix again had the largest annual increase at 22.5% followed by San Francisco with 22.2% and Las Vegas with 20.6%. Miami and Tampa, the eastern end of the Sunbelt, were softer with annual gains of 10.7% and 11.8%. The weakest annual price gains were seen in New York (+2.6%), Cleveland (+4.8%) and Boston (+6.7%); even these numbers are quite substantial.”


Related Articles

arrow_forward_ios
The year-over-year rise in home prices was just below the 19.8 percent annual rise in August. (iStock)
Home prices up 20%, but buyers, take heart
Home prices up 20%, but buyers, take heart
As housing price growth plateaus, Shiller warns buyers of “bumpy” ride
As housing price growth plateaus, Shiller warns buyers of “bumpy” ride
As housing price growth plateaus, Shiller warns buyers of “bumpy” ride
The national composite is now about 44 percent higher than its previous peak in July 2006 (Getty, Unsplash / Annie Spratt)
All the way up: Home price growth broke record for 4th straight month in July
All the way up: Home price growth broke record for 4th straight month in July
The index is 24.5 percent above its previous high point in 2006. (iStock)
U.S. home prices surge 14.6% in April, shattering records (again)
U.S. home prices surge 14.6% in April, shattering records (again)
REBNY's Ninve James and Trestle's Amy Gorce 
REBNY taps CoreLogic’s Trestle to manage RLS feed transmissions
REBNY taps CoreLogic’s Trestle to manage RLS feed transmissions
Real estate at risk: Industry vulnerable to data breaches
Real estate at risk: Industry vulnerable to data breaches
Real estate at risk: Industry vulnerable to data breaches
CoStar CEO Andy Florance
CoStar retreats from failed CoreLogic bid
CoStar retreats from failed CoreLogic bid
CoStar Group Andrew C. Florance (Getty)
CoStar revenue soars 19% after year of acquisitions
CoStar revenue soars 19% after year of acquisitions
arrow_forward_ios

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

Loading...