The S&P CoreLogic Case-Shiller U.S. National Home Price Index reported a 5.5 percent annual gain in September, up from 5.1 percent in August and enough of a gain to surpass the index’s peak set in July 2006 as the housing boom topped out, according to the Index report.
The 10-City Composite increased 4.3 percent year-over-year in September, up from 4.2 percent in August, and the 20-City Composite recorded a year-over-year gain of 5.1 percent, unchanged from August.
“The new peak set by the S&P Case-Shiller CoreLogic National Index will be seen as marking a shift from the housing recovery to the hoped-for start of a new advance,” said David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, in a statement.
Month-over-month, the National Index rose 0.8 percent in September, and the 10-City and 20-City Composites increased 0.2 percent and 0.4 percent, respectively.
