US home prices increase in October
S&P Dow Jones Indices released the latest results for the S&P/CaseShiller Home Price Indices, the leading measure of U.S. home prices. Data released for October 2015 show that home prices continued their rise across the country over the last 12 months.
The S&P/Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, recorded a slightly higher year-over-year gain with a 5.2% annual increase in October 2015 versus a 4.9% increase in September 2015.
The 10-City Composite increased 5.1% in the year to October compared to 4.9% previously. The 20-City
Composite’s year-over-year gain was 5.5% versus 5.4% reported in September.
San Francisco, Denver and Portland continue to report the highest year-over-year gains among the 20 cities with another month of double-digit price increases of 10.9% for all three.
Twelve cities reported greater price increases in the year ending October 2015 versus the year ending September 2015. Phoenix had the longest streak of year-over-year increases, reporting a gain of 5.7% in October 2015, the eleventh consecutive increase in annual price gains.