Home Prices Continue to Accelerate

The 20-City Case-Shiller Composite gained 5.5 percent year-over-year in October, up from September’s gain of 5.4 percent. The 10-City Composite gained 5.1 percent from the previous year, up from a 4.9 percent annual increase last month. The National Index posted a 5.2 percent annual increase, compared to a 4.9 percent increase in September.

On a monthly basis, the National Index and 20-City Composite each reported month-over-month gains of 0.1 percent, while the 10-City Composite was unchanged, before seasonal adjustment.

Home prices declined on a monthly basis in eight cities, with the largest declines in Chicago (-0.7 percent), Cleveland (-0.4 percent), Washington (-0.3 percent) and San Diego (-0.3 percent). Tampa and Miami reported the largest monthly increases, raising 0.7 percent each. Three cities reported over 10 percent year-over-year gains, as home prices in San Francisco, Portland and Denver rose 10.9 percent.

Read the S&P release.