Keeping you up to date on the latest data releases.
The S&P Case-Shiller National Home Composite index rose 3.6 percent in the third quarter of 2012 versus the third quarter of 2011, and was up 2.2 percent compared to the second quarter of 2011—this marks the sixth consecutive month of increasing prices. In September, the 10- and 20-city composites showed annual improvements of 2.1 percent and 3.0 percent. On a monthly basis, prices edged up 0.3 percent and 0.4 percent, respectively for the 10- and 20-city composites, which is the eighth consecutive month that both indexes have risen. Eighteen of the MSAs saw positive annual returns, while fifteen cities saw positive monthly increases. Cleveland was amongst the cites which posted monthly declines, down 0.9 percent, but remains up 1.4 percent compared to this time last year. Nationally, prices are back to their mid-2003 levels.
The FHFA Housing price index rose a seasonally adjusted 1.1 percent from the second to third quarter of this year. Compared to the third quarter of 2011 homes prices rose 4.0 percent; however, after adjusting for inflation home prices increased just 2.5 percent. On a monthly basis, home prices edged up 0.2 percent. Throughout the nation, annual price changes continue to show the strongest improvements in the Mountain region, up 10.3 percent, and the weakest in the New England region, down 0.5 percent. Overall the September index level is now back to mid-2004 levels.