Case Shiller Home Prices Rise In December

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Published : February 26th, 2013
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Category : Opinions and Analysis

Standard & Poor’s reported that the Case Shiller 20-City Home Price Index rose in December, up 0.2 percent from November, and the index moved 0.9 percent higher after seasonal adjustments as shown below.

24hGold - Case Shiller Home Pr...

24hGold - Case Shiller Home Pr...

While seasonality is certainly making the data more difficult to interpret, there is no question that home prices continue to rise at a steady pace, though it’s worth pointing out that the slope of the year-over-year curves above was much steeper when moving up from the early-2009 bottom.

In December, the annual price change of the 20-city index reached a new recovery high of 6.8 percent, still a few percentage points back of other more timely home price gauges as buyers continue to flock to areas that were once housing bubble hot-spots. Las Vegas and Los Angeles saw the biggest price gains for the month, up 1.8 percent and 1.1 percent, respectively.

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Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
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