NEW YORK—All three composites of the S&P/Case-Shiller U.S. National Home Price Indices, released by S&P Dow Jones, posted double-digit annual increases for the first quarter of 2013. The 10-City and 20-City Composites increased by 10.3 percent and 10.9 percent respectively in the year to March while the national composite has risen by 10.2 percent in the last four quarters. As of the first quarter of 2013, average home prices across the U.S. are back at their mid-2003 levels, with the National Index up 1.2 percent over the fourth quarter of 2012.
“Home prices continued to climb,” says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. “Home prices in all 20 cities posted annual gains for the third month in a row. Twelve of the 20 saw prices rise at double-digit annual growth. The National Index and the 10- and 20-City Composites posted their highest annual returns since 2006.”
The number of cities that showed monthly gains increased to 15 out of 20. Denver, Charlotte, Seattle and Washington entered positive territory, with Seattle and Charlotte posting the most notable returns of +3.0 percent and +2.4 percent respectively. San Francisco posted the highest month-over-month return of 3.9 percent.
More date about the 10- and 20-City Composites and S&P Dow Jones Indices can be found here.