Case Shiller House Index March 2013 Shows Continued Rise In US Housing Prices

The recovery in US housing prices continues in March 2013, according to the Case-Shiller Home Price Index.  The US composite shows year-over-year growth of about 10% to 11% for March 2013; sequential growth as 1.4%.

The South Florida market saw prices move up 10.7% on an annual basis in March 2013, according to the Case-Shiller Home Price Index; sequentially, prices increased by 1.2%.  These statistics were more-or-less in line with the national averages by measure of the Case-Shiller Index.

I think the following is an interesting quote from the report:

“Other housing market data reported in recent weeks confirm these strong trends: housing starts and permits, sales of new home and existing homes continue to trend higher. At the same time, the larger than usual share of multi-family housing, a large number of homes still in some stage of foreclosure and buying-to-rent by investors suggest that the housing recovery is not complete.”

The average home price was back to the mid-2003 level in March 2103, according to the Case-Shiller report.  The decline for the US composites are still off about 28% to 29% from the peak value in June/July 2006. 

Other areas of interest:

Mar-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	155.71	1.20%	6.70%
Chicago	110.73	0.00%	7.80%
Miami	155.89	1.20%	10.70%
Minneapolis	123.15	-1.10%	12.50%
New York	161.54	-0.40%	2.60%
Tampa	139.91	2.60%	11.80%
Composite 10	161.48	1.40%	10.30%
Composite 20	148.65	1.40%	10.90%
Source:
S&P Indices
Firserv

 
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