U.S. Home Prices up 11% over Last 12 Months

Home prices continued to climb in third quarter, rising 11% from a year earlier.  The S&P/Case-Shiller home price index registered its first double-digit year-over-year gain since early 2006 — just before the height of the housing bubble — despite a recent rise in mortgage rates.

However, the quarter-over-quarter gain slowed to 3%, compared with the second quarter, when prices jumped 7%.

“The data suggest a market beginning to shift to slower growth rather than one about to accelerate,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.


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