Home Prices Rise for 10th Straight Month

NEW YORK CITY-Home prices across the US had a better showing this past November than they’d managed the month prior, S&P Dow Jones Indices said Tuesday. The S&P/Case-Shiller Home Price Indices showed that the price tags rose 4.5% for the 10-City Composite and 5.5% for the 20-City Composite in the 12 months that ended Nov. 30, 2012, a better year-over-year gain than the previous month’s showing. The year-over-year increases marked the 10th consecutive month of gains in prices for homes ranging from single-family houses to condominiums and co-ops.

“Housing is clearly recovering,” says David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, in a release. “Prices are rising as are both new and existing home sales.”