Tuesday, May 28, 2013

Existing Home Prices Continue to Accelerate in March

According to the Case-Shiller 20-city index, home prices are now 1.4% above previous month’s prices and 10.9% above year ago levels. The country’s 10 largest cities improved 1.4% from February and 10.3% from year ago levels.

All 20 metro regions covered by the index reported price increases from year ago levels, the third consecutive month to do so. New York, the weakest performer saw home prices rise 2.6% from year ago levels, but drop 0.4% from the previous month. Phoenix continues to show the strongest home price improvement, increasing 22.5% from year ago levels.

Although home prices have seen strong growth in recent months, the growth is coming from depressed levels. The 20-city index remains 28.0% below its peak in July of 2006.

Read the Standard and Poor release.

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