Keeping you up to date on the latest data releases.
The S&P Case-Shiller national housing price ticked down 0.3 percent from the third to fourth quarter of 2013, but was up 11.3 percent compared to the fourth quarter of 2012. On a monthly basis, the ten-city composite index showed no change and the twenty-city composite index slipped down 0.1 percent from November to December. On an annual basis, both the ten- and twenty-city composite indexes showed strong improvement, increasing 13.6 percent and 13.4 percent, respectively. While no cities showed sharp monthly price movements, Las Vegas, Los Angeles, and San Francisco posted annual price improvements of over 20 percent. Overall index home prices are back to mid-2004 price levels.
The FHFA housing price index rose 1.2 percent in the fourth quarter of 2013 and 7.6 percent over the past four quarters. This represents the eighth consecutive month of growth after 18 consecutive months of declining home prices. On a monthly basis, the index rose 0.8 percent and 7.7 percent on an annual basis. The Pacific and Mountain regions showed the strongest annual gains, up 14.9 percent and 12.6 percent, respectively. This was the highest quarter of growth for home price appreciation since the fourth quarter of 2005, and the total index is roughly the same as mid-2005 price levels.