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Tuesday, December 31, 2013

Home Prices Rise in October; Las Vegas Leads Nation with 27.1 Percent Annual Gain

According to The Standard & Poor's/Case-Shiller 20-city home price index, U.S. home prices rose in October from the previous year at the fastest pace since February 2006. Among the nation, Las Vegas led in annualized gains with its 27.1 percent increase. All 20 cities in the index showed a year-over-year gain, demonstrating a price advance in roughly half of U.S. homes. Although price gains slowed in most U.S. cities from September to October, prices are still strong for the year as a whole, reflecting the housing market recovery and how it has helped to drive economic growth over the past year.

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