BREAKING NEWS! Case Shiller Indices Post Strongest Gain Since 2006

Home prices posted their strongest year-year gain in almost seven years in February, according to the Case Shiller 10- and 20-city Home Price Indexes released Tuesday. Home prices rose year-year in all 20 of the cities in the Case Shiller survey.

Month-over-month, the 10-city index improved 0.4 percent in February while the 20-city index was up 0.3 percent. Year-year, the 10-city index was up 8.6 percent and the 20-city index rose 9.3 percent.

Economists had forecast the 20-city index would rise slightly to 146.16, essentially unchanged from January but 9.0 percent higher than February 2012..

Prices rose in 11 cities in February over January while falling in eight. Prices were unchanged in one city, Atlanta. In the report for January, price rose month-month in 11 cities, declined in six and were unchanged in three.

Mark Lieberman – 4-30-13