According to the S&P Case-Shiller 10-and 20-City Housing Market Indices for September, home prices grew at an average of 13.30 percent year-over-year and achieved the highest growth rate for home prices since February 2006.
The short holiday week brought a flurry of economic reports last week. Highlights included pending home sales, the S&P Case-Shiller Housing Market Indices and the FHFA home price index. No reports were released on Thursday and Friday in observance of the Thanksgiving holiday.
According to the National Association of REALTORS®, national sales of existing homes in June came in at 5.08 million.
The S&P Case-Shiller Home Price Indices for April indicate that the housing recovery gained ground. In April 2013 average home prices tracked in the Case-Shiller 10 and 20-city Composites increased by 11.60 and 12.10 percent year-over-year. On a month-to-month basis, the Composites increased by 2.60 and 2.50 percent respectively.
The Case-Shiller Index showed home prices gaining 4.3 percent during the 12-month period ending October 2012.
Home values have not dropped month-to-month since January of this year -- a span of 6 months.
Beginning as soon as next week, new, mandatory mortgage fees will push conforming mortgage rates higher nationwide.
According to the Federal Home Finance Agency's Home Price Index, home prices rose by a seasonally-adjusted 0.7 percent between May and June 2012. The index is now up 3.0% over the past 12 months, and made its biggest quarterly gain since 2005 last quarter.
All 20 Case-Shiller Index markets improved between April and May 2012.
The housing market's bottom is 9 months behind us. Home values continue to climb nationwide.
The Federal Home Finance Agency's Home Price Index shows home values up 0.8% in April on a monthly, seasonally-adjusted basis.
The government confirms what the private-sector Case-Shiller Index reported yesterday. Nationwide, average home values slipped in October.