Home prices in October posted the highest year-over-year gains since February 2006, according to the S & P/Case-Shiller Home Price Indices. Both the 10- and 20-city composites posted 13.6 percent gains compared with October 2012. This marks 17 consecutive months of annual gains.
Home prices in October posted the highest year-over-year gains since February 2006, according to the S & P/Case-Shiller Home Price Indices. Both the 10- and 20-city composites posted 13.6 percent gains compared with October 2012. This marks 17 consecutive months of annual gains.
Compared with September, the two composites gained 0.2 percent in October. Eighteen cities posted lower monthly increases in October than September.
"Home prices increased again in October," David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, said in a statement. "However, monthly numbers show we are living on borrowed time and the boom is fading … Other housing data paint a mixed picture suggesting that we may be close to the peak gains in prices. However, other economic data point to somewhat faster growth in the new year. Most forecasts for home prices point to single digit growth in 2014."
