Welcome back to double-digit appreciation rates. And its not a fad. Home Prices have now logged 20 straight months of gains in home values.
The S&P Case-Shiller 20-city home price index climbed 1.05% month-over-month in October. On a year-over-year basis, home prices were up 13.61%.This was the biggest gain since February 2006.
“Home prices increased again in October,” David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices said in a press release. “Both Composites’ annual returns have been in double-digit territory since March 2013 and increasing; now up 13.6% in the year ending in October.