Home Prices Continue to Rise Year Over Year
New York, NY, Jan. 28, 2014 -- Home prices rose in November from the previous year by the most in almost eight years, according to the S&P/Case-Shiller index of property prices.
Prices rose 13.7% from November 2012, the biggest 12-month increase since February 2006, after a 13.6% increase in the year ended in October.
However, prices edged down from October by 0.1%
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Prices are still down about 20% from their 2006. However, the 10-city index is up 23% from the March 2012 lows, while the 20-city index is up 23.7%.
"November was a good month for home prices," said David M. Blitzer, chairman of the Index Committee, in a press release.