The results are in! According to S&P/Case-ShillerHome Price Indexes, the leading measure of U.S. home prices, home prices continued to increase in June 2013. Specifically, the National index grew 7.1 percent in the second quarter and 10.1 percent over the last four quarters. The 10-city and 20-city composites posted returns of 2.2 percent for June and 11.9 percent and 12.1 percent over 12 months, respectively.
Needless to say, things continue to look up for the housing market, specifically in California, namely San Francisco. ‘The Southwest and California have consistently led the recovery with Las Vegas, Los Angeles, Phoenix and San Francisco posting at least 15 months of gains’ says David M. Blitzer, Chairman of the Index Committee at S&P Down Jones Indices. According to the reports, ‘Year-over-year, Las Vegas and San Francisco were the only two MSAs to post gains of over 20%.’
For the full report visit: S&P Dow Indices.