Home Breaking News National home prices hit a two-and-a-half year high in December, Case-Shiller says

National home prices hit a two-and-a-half year high in December, Case-Shiller says

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This home got 0.2% more expensive during the three-month period ending in December.

U.S. home prices surged higher in December, just months after hitting a high last seen at the height of the housing bubble a decade ago.

The S&P/Case-Shiller 20-city index rose 5.6% in the three-month period ending in December compared to a year ago, up from a 5.2% annual gain in November.

The broader national index rose 5.8% for the year in the December period, the strongest gain in 30 months. Economists had forecast a 5.4% increase in the 20-city index, which attracts more attention than the national measure.

In December, the hottest markets were again in the West. Seattle prices rose 10.8% compared to a year ago, Portland prices were up 10.0%, and Denver saw increases of 8.9%. Twelve cities had bigger annual price gains in December than November.

Metro Monthly change 12-month change
Atlanta 0.2% 6.3%
Boston 0.6% 6.3%
Charlotte 0.1% 5.6%
Chicago 0.5% 4.9%
Cleveland 0.4% 4.4%
Dallas 0.2% 8.1%
Denver 0.1% 8.9%
Detroit -0.2% 6.2%
Las Vegas 0.3% 5.8%
Los Angeles 0.3% 5.4%
Miami -0.1% 6.8%
Minneapolis -0.1% 5.7%
New York 0.4% 3.1%
Phoenix 0.2% 4.9%
Portland 0.3% 10.0%
San Diego 0.2% 5.4%
San Francisco 0.1% 5.7%
Seattle 0.6% 10.8%
Tampa 1.1% 8.4%
Washington 0.5% 4.2%

The national index is 0.5% higher than its July 2006 peak, while the 20-city index is still 6.7% lower.



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