Home prices continued their rise across the country over the last 12 months, with yet another increase in September, according to recently released S&P/Case-Shiller Home Price Indices.
Covering all nine U.S. census divisions, the S&P/Case-Shiller U.S. National Home Price Index recorded a slightly higher year-over-year gain with a 4.9 percent annual increase in September 2015 versus a 4.6 percent increase in August 2015. The 10-City Composite increased 5.0 percent in the year to September compared to 4.7 percent previously. The 20-City Composite’s year-over-year gain was 5.5 percent versus 5.1 percent in the year to September. After adjusting for the CPI core rate of inflation, the S&P/Case Shiller National Hoe Price Index rose 3 percent from September 2014 to September 2015.
“Home prices and housing continue to show strength with home prices rising at more than double the rate of inflation,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.