Source: September S&P CoreLogic Case-Shiller National Home Price NSA Index Up 6.2% In Last 12 Months

Recent Analysis of the September HPI figure show as a 6.2% annual gain in home prices, up 5.9% from the previous month. Several large markets that were hit hardest in the financial crisis are reporting the highest gains, including San Diego (up 8.2%). 15 of the 20 major cities posted increases before seasonal adjustments, but all 20 reported increases after seasonal adjustments.

On the bright side, these price increases continue to be fueled by a strong economy, low mortgage interest rates, and a low inventory of homes; however, continued price increases and low inventories can put pressure on affordability for some people.

Steve Remington
Chief Operations Officer at Benchmark