Home Prices Continue To Rise in December
Washington, DC, Feb. 24, 2015 -- Single-family home prices rose 4.5% in December over the previous year, according to the S&P/Case Shiller composite index of 20 metropolitan areas.
Economists forecast a rise of 4.3%.
The increase from November was .87%.
"While prices and sales of existing homes are close to normal, construction and new home sales remain weak," David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a press release.
"The softness in housing is despite favorable conditions elsewhere in the economy: strong job growth, a declining unemployment rate, continued low interest rates and positive consumer confidence."