Sept. home prices up 13.3% from year ago
Home prices continued rising in September, but many cities posted slower gains than in previous months, according to a closely-watched barometer.
The 20-city Standard & Poor's/Case-Shiller Index increased 0.7% in September from August and was 13.3% ahead of a year ago, S&P said Tuesday.
While 13 of 20 cities showed higher year-over-year growth rates, 19 cities had lower monthly increases in September than August.
'Housing continues to emerge from the financial crisis: the proportion of homes in foreclosure is declining and consumers' balance sheets are strengthening. The longer run question is whether household formation continues to recover and if home ownership will return to the peak levels seen in 2004,' said David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices.
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