LA Real Estate Advice: Home Prices Gain for Seventh Straight Month
Posted by Clinton Wade on Feb 23, 2010
Westside LA Real Estate Advice: Case-Shiller home price index rose 0.3 percent as industry slowly recovers.
Home prices rose nationally for the seventh straight month in December as the U.S. housing market continues its bumpy road to recovery.
The Standard & Poor’s/Case-Shiller 20-city home price index rose 0.3 percent from November to December, to a seasonally adjusted reading of 145.87.
The index was off 3.1 percent from December last year, nearly matching analysts’ estimates that it would fall by 3.2 percent.
Only five of 20 cities in the index showed declines from November to December. The index is now up more than 3 percent from its bottom in May, but still 30 percent below its May 2006 peak.
On a quarterly basis, U.S. home prices fell 2.5 percent compared with the fourth quarter of 2008.
Source: Associated Press
