The S&P Case-Shiller housing index shows nationwide home prices have climbed 3.6% year over year. In the third quarter the index climbed 2.2% over the second quarter of 2012. The increased real estate prices we’ve seen locally are much stronger than the nationwide index but housing prices are climbing nationwide.
“Home prices rose in the third quarter, marking the sixth consecutive month of increasing prices,”- David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.”
“In September’s report all three headline composites and 17 of the 20 cities gained over their levels of a year ago. Month-over-month, 13 cities and both Composites posted positive monthly gains.” – S&P – Dow Jones Press Release
The Phoenix Metropolitan Area showed the highest increase with a 20.4% increase over a year ago. The San Francisco Metropolitan Area showed a 7.5% increase which was lower than Phoenix, Minneapolis, and Detroit.
The two metropolitan areas showing a year over year decline are Chicago and New York with -1.5% and -2.3% respectively. Atlanta showed essentially no change with a 0.1% rise.