Home Prices Up Nationwide Reports S&P/Case-Shiller

30 Dec

http://us.spindices.com/indices/real-estate/sp-case-shiller-us-national-home-price-index

 

The S&P/Case-Shiller U.S. National Home Price Index is a composite of single-family home price indices for the nine U.S. Census divisions and is calculated monthly. It is included in the S&P/Case-Shiller Home Price Index Series which seeks to measure changes in the total value of all existing single-family housing stock.

Year-over-year, home prices reported a 5.2% annual increase in October 2015 compared to a 4.9% gain in September, according to the S&P/Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions.

The increases also translated into growth among the 10-City composite, which saw home prices grow 5.1% in the year to October compared to 4.9% previously; and a year-over-year gain of 5.5% in October for the 20-City composite, versus 5.4% reported in September.

On a monthly basis, the National Index posted a modest gain of 0.1% in October compared to September, before the seasonal adjustment. The 10-City and 20-City composites reported similar gains of 0.1% during this time. After the seasonal adjustment, the Index reported a gain of 0.9%, while the 10-City and 20-City composites both increased 0.8% month-over-month. 12 cities reported higher price increases in the year ending October 2015 compared to the year ending September 2015, with Phoenix having the longest streak of annual increases, reporting a gain of 5.7% in October 2015—its eleventh consecutive increase in annual price gains.

Good economic conditions continue to support gains in home prices, said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices.

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