Home Prices Up 3.3% From Last Year
The S&P CoreLogic Case-Shiller Indices have tracked U.S. home prices for more than 27 years. Considered among the leading measures of home price trends, the Case-Shiller index is a closely watched gauge of where home prices are headed. According to the most recent results, home values continue to increase. In fact, they are up 3.3 percent year-over-year. But, though they're still rising, the rate of increase is actually slower than the historical average. For example, home prices between 1968 and 2004 saw an average yearly increase of 6.4 percent. Still, the Case-Shiller index found price increases have accelerated slightly in recent months. “As was the case last month, after a long period of decelerating price increases, the national, 10-city, and 20-city composites all rose at a modestly faster rate in October compared to September,” Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones, said. “This stability was broad-based, reflecting data in 12 of 20 cities. It is, of course, still too soon to say whether this marks an end to the deceleration or is merely a pause in the longer-term trend.” More here.