Industry NewsMarkets & Economy

U.S. home-price index climbs 3.6% in Q2

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A quarterly index of national home prices in the second quarter showed improvement from both its first quarter and year-ago figures, according to the latest Standard & Poor's/Case-Shiller National Home Price Indices report released today. The indices, which are based on repeat sales of single-family homes over time, have a base value of 100, with levels above 100 representing the percentage of home-value appreciation since January 2000. The U.S National Home Price Index rose 3.6 percent year-over-year in the second quarter to 138.03, and rose 4.4 percent from the first quarter of this year. Meanwhile, the monthly 20-City Composite Home Price Index rose 4.2 percent in June, to 147.97, compared to June 2009. That follows a 4.6 percent year-over-year increase in May. "After 16 consecutive months of improvement in their annual rates of return, June's figures were the first to moderate from their prior month's pace, pointing to a possible deceleration in home-price re...