Home prices in 20 U.S. cities continued to climb in September, while a gauge of values nationwide exceeded the pre-recession peak, according to S&P CoreLogic Case-Shiller data released Tuesday.
20-city property values index rose 5.1% from September 2015 (forecast was 5.2%) after a similar gain in the year through August. National home-price gauge increased 5.5% from 12 months earlier, to a record 184.8; the previous peak in 2006 was 184.6. On a monthly basis, the seasonally adjusted 20-city gauge rose 0.4% from prior month after a 0.3% advance.
"The new peak set by the S&P Case-Shiller CoreLogic National index will be seen as marking a shift from the housing recovery to the hoped-for start of a new advance," David Blitzer, chairman of the S&P index committee, said in a statement. "Other housing indicators are also giving positive signals."