United States Housing

United States

United States: Home prices record largest annual gain in over six years

January 29, 2013

In November, the unadjusted S&P/Case-Shiller 20-city home price composite index fell 0.1% over the preceding month. The reading followed a 0.2% price drop in October and was in line with market expectations.

Despite the monthly drop, home prices are now 5.5% above the same month the year before. The reading was up from the 4.2% annual increase recorded in October and represents, in fact, the largest gain in annual terms seen in over six years. Only prices in New York, out of the 20 cities surveyed, were lower over the same month the previous year, whereas the largest increase was seen in Phoenix (+22.8% year-on-year).

In addition, S&P remained very optimistic, indicating that "housing is clearly recovering. Prices are rising as are both new and existing home sales. Existing home sales in November were 5.0 million, the highest since November 2009. New Home sales at 398,000 were the highest since June 2010. These figures confirm that housing is contributing to economic growth".


Sample Report

Looking for forecasts related to Housing in United States? Download a sample report now.


United States Housing Chart

USA Housing November 2012

Note: S&P/Case-Shiller Composite-20 home price value index and month-on-month non-seasonally adjusted variation.
Source: Standard & Poor

United States Economic News

More news

Search form