S&P Dow Jones Indices released the latest results for the S&P/Case-Shiller Home Price Indices which shows that home prices continued to rise nationwide over the last 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 5.4 percent annual increase in January 2016. The 10-City Composite is up slightly at 5.1 percent for the year. The 20-City Composite’s year-over-year gain is 5.7 percent. After seasonal adjustment, the National, 10-City Composite, and 20-City Composite rose 0.5 percent, 0.8%, and 0.7 percent, respectively, from the prior month.
Portland, Seattle, and San Francisco reported the highest year-over-year gains among the 20 cities with another month of double digit annual price increases. Portland led the way with an 11.8 percent year-over-year price increase, followed by Seattle with 10.7 percent, and San Francisco with a 10.5 percent increase.
Report delivered by CAR Newsline 3/31/2016