Keeping you up to date on the latest data releases.
All three headline S&P Case-Shiller housing price indexes posted strong annual gains. The national index, down 0.3 percent from the third to the fourth quarter of 2012, rose 7.3 percent since 2011:Q4. Meanwhile, the 10- and 20-city composites rose 5.9 percent and 6.8 percent, respectively in 2012:Q4. With annual growth rates of 9.9 percent and 13.6 percent, Atlanta and Detroit produced their largest year-over-year price changes since the index began in 1991. Home prices in Phoenix continue to soar, as they have risen for eight consecutive months and are up 23 percent since last December. Home prices are now back to mid-2003 price levels.
The FHFA housing price index rose 1.4 percent from the third quarter to the fourth quarter, representing the third consecutive quarter of growing prices and a 5.5 percent increase since 2011:Q4. Of the nine census divisions, the Pacific division experienced the strongest increase in the latest quarter, posting a 4.2 percent price increase. House prices were weakest in the East North Central division, where prices remained unchanged from the prior quarter. The monthly index rose slightly, up 0.6 percent. However, this is the eleventh consecutive month of growth, showing a sign of sustained improvement. Overall, home prices are back to autumn 2004 price levels.