Keeping you up to date on the latest data releases.
The S&P Case-Shiller national housing price index rose 1.2 percent in the first quarter of 2013 and 10.2 percent over the past four quarters. Both the 10- and 20-city indexes rose 1.4 percent in March and are up 10.3 percent and 10.9 percent, respectively on an annual basis. All 20 MSAs posted annuals gains for the third consecutive month and five posted their highest month-to-month gains in over seven years. Cleveland was among the cities with the weakest annual gains (up 4.8 percent), which is still substantial compared to recent trends. Overall home prices are continuing to climb and all three indexes are back to 2003 price levels.
The FHFA housing price index rose 1.9 percent from Q4:2012 to Q1:2013 and 6.7 percent since Q1:2012, representing the seventh consecutive quarter of price growth. On a monthly basis the index rose by 1.3 percent in March and 7.2 percent over the past 12 months. Regionally all areas posted positive growth rates on a monthly and annual basis and overall prices are back to late 2004 levels.