Home price gains continued to accelerate slightly in October, rising 3.3 percent year-over-year after rising 3.2 percent year-over-year in September, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
Phoenix, Tampa and Charlotte led the way in price gains, with home prices climbing 5.8 percent in Phoenix.
“October’s U.S. housing data continue to be reassuring,” said Craig Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices.
“With October’s 3.3 percent increase in the national composite index, home prices are currently more than 15 percent above the pre-financial crisis peak reached July 2006. October’s results were broad-based, as both our 10- and 20-city composites rose,” Lazzara added. “Of the 20 cities in the composite, only San Francisco saw a year-over-year price decline in October.”
About the index
The S&P/Case-Shiller U.S. National Home Price Index is a composite of single-family home price indices that is calculated every month; the indices for the nine U.S. Census divisions are calculated using estimates of the aggregate value of single-family housing stock for the time period in question.
The nine divisions are:
- New England
- Middle Atlantic
- East North Central
- West North Central
- South Atlantic
- East South Central
- West South Central
- Mountain
- Pacific
CoreLogic serves as the calculation agent for the S&P/Case-Shiller U.S. National Home Price Index.
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