Tag Archives: S&P/Case Shiller Home Price Indices

Despite experiencing a slight downturn--the first monthly decline in a year--home prices still turned in a strong performance in November.

Lender Processing Services' (LPS) monthly Home Price Index--released a day before the Case-Shiller figures--climbed to $232,000 in October, putting prices about 8.2 percent higher than they were at the start of 2013. Annually, LPS' index was up approximately 8.8 percent, a minor increase compared to the annual improvement in the Case-Shiller index. Monthly, gains came to about 0.1 percent, also down relative to the Case-Shiller report.

Mortgage rates began 2014 with a round of increases, kicking off a trend many experts believe will continue through the rest of the year. Freddie Mac's weekly Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaging 4.53 percent (0.8 point) for the week ending January 2, up from the last week of 2013, when it averaged 4.48 percent. Meanwhile, Bankrate.com reported the 30-year fixed at 4.69 percent, a gain of 6 basis points.

Home prices rose annually for the 17th straight month in October, achieving their highest yearly gain in nearly eight years, according to the S&P/Case-Shiller Home Price Indices released Tuesday. Both the 10- and 20-city composite indices saw annual increases of 13.6 percent in October--the largest year-over-year growth since February 2006. As of the end of the month, average home prices nationwide had recovered to mid-2004 levels; compared to their mid-2006 peaks, both composites were still down about 20 percent.

Home prices continued to advance in September, bringing third-quarter growth to 3.2 percent, according to the S&P/Case-Shiller Home Price Indices released Tuesday. Both the 10- and 20-city component indices rose 0.7 percent month-over-month and 13.3 percent year-over-year in September. Since bottoming out in March 2012, the 10- and 20-city composites have recovered 22.9 percent and 23.6 percent, respectively; compared to their June/July 2006 peaks, both indices are down about 20 percent.

The S&P/Case-Shiller Home Price Indices rose once again in August at their fastest annual rate in more than six and a half years, but the monthly pace continues to slow. The Case-Shiller 10- and 20-city composites each posted yearly growth of 12.8 percent over August 2012, breaking July records and setting the fastest pace for growth since February 2006. Compared to July's indices, annual growth accelerated in 14 of the tracked cities. Monthly numbers were slower, with both composites seeing a 1.3 percent increase.

Home prices rose in July by less than 2 percent for the first time since March but still reached their highest level since August 2008, according to the Case-Shiller Home Price Indices released Tuesday. All 20 cities included in the survey improved both month-to-month and year-to-year. The two surveys have improved both monthly and yearly for 14 consecutive months.

Friday's report on the August employment situation at the same time confounded analysts twice with a less than robust 169,000 month-month increase in payrolls and a staggering 58,000 reduction in the initial report on payrolls for July. While it may not be easy to reconcile the numbers in the employment situation report with themselves, it is even more difficult to reconcile them with other economic indicators.

Home prices rose in June to their highest levels in almost five years, increasing 2.2 percent, according to the Case-Shiller Home Price Indices released Tuesday.

Home prices rose to their highest levels in almost five years in May, increasing by a non-seasonally adjusted 2.5 percent, according to the Case-Shiller Home Price Indices released Tuesday. The 20-city index was up 12.2 percent from a year earlier, and the companion 10-city index was up 11.8 percent. For the month, the 10-city index rose 2.5 percent and the 20-city index was up 2.4 percent. The two surveys have improved month-over-month and year-over-year for 12 consecutive months.