Economy
November 26, 2013
US Home Price Index up 11.2% Y/Y
Written by Sandy Williams
The S&P/Case Shiller U.S. National Home Price Index rose 11.2 percent year-over-year for its highest level since 2006, according to data compiled through September 2013. On a quarter-over-quarter basis, the third quarter index rose 3.2 percent.
The index is based on the annual returns of 10-City and 20-City Composites. Twelve of the 20 cities posted double-digit annual returns in September with home prices increasing the most in Western cities. Momentum may be slowing, however, as 19 cities had lower monthly returns in September than in August.
