Home prices continue to rise
Newly released S&P/Case-Shiller home price indices, data that forecasts U.S. house price, continues to demonstrate significant resiliency compared to past years. The index shows prices rose notably in late spring.
Yesterday's release of the S&P/Case-Shiller (CSI) home price indices for July reported that the non-seasonally adjusted Composite-10 price index rose a notable 1.86% since June while the Composite-20 index also increased 1.85% over the same period.
The latest CSI data is continuing to demonstrate significant resiliency compared to past years, as prices remained stable through the typically slow winter and early spring period and now appear to be rising notably through the more active late spring period.
The 10-city composite index increased 12.28% as compared to July 2012 while the 20-city composite increased 12.39% over the same period.
Both of the broad composite indices still show significant peak declines slumping -21.99% for the 10-city national index and -21.32% for the 20-city national index on a peak comparison basis.