U.S. home prices continue to rise

NEW YORK, N.Y. — Data through June 2013, released  by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, showed that prices continue to increase. The National Index grew 7.1 percent in the second quarter and 10.1 percent over the last four quarters. The 10-City and 20-City Composites posted returns of 2.2 percent for June and 11.9 percent and 12.1 percent over 12 months.

All 20 cities posted gains on a monthly and annual basis. However, in only six cities were prices rising faster this month than last, compared to 10 in May. Dallas and Denver reached new all-time highs as they did last month, with returns of +1.7 percent each in June. San Francisco’s rebound is the largest, up 47.0 percent from its low in March, 2009. Phoenix is second, 37.1 percent above its September, 2011, low.

“National home prices rose more than 10 percent annually in each of the last two quarters,” says David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices. “However, the monthly city-by-city data show the pace of price increases is moderating.”


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