S&P/Case-Shiller: November Home Prices Showed Strength

Posted by Orb Staff on January 29, 2013 No Comments
Categories : Residential Mortgage

13195_house_gold S&P/Case-Shiller: November Home Prices Showed Strength Home prices continued to rise in November, according to data released by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices.

Average home prices rose 4.5% for the indices' 10-city composite and 5.5% for the 20-city composite in the 12 months ending in November 2012. Prices rose in 19 of the 20 cities and fell only in New York. Phoenix led with the fastest price rise, up 22.8% in 12 months as it posted its seventh consecutive month of double-digit annual returns.

‘Housing is clearly recovering,’ says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. ‘Prices are rising as are both new and existing home sales. Existing home sales in November were 5 million, the highest since November 2009. New Home sales at 398,000 were the highest since June 2010. These figures confirm that housing is contributing to economic growth.’

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