Skip to main content
You have permission to edit this article.
Edit
Home price index shows 1st annual gain in 3 years

Home price index shows 1st annual gain in 3 years

  • 0
{{featured_button_text}}

MIAMI — Home prices rose in February, the first annual increase in more than three years, but fell short of analysts’ expectations.

But results of the Standard & Poor’s/Case-Shiller 20-city home price index were mixed, as 11 of the 20 cities showed declines.

Home prices in February increased 0.6 percent on a non-seasonally adjusted basis, according to the index released Tuesday. The last time prices rose on a year-over-year basis was December 2006.

Economists polled by Thomson Reuters predicted a 1.2 percent increase.

The data show that home prices could decline further before experiencing any sustained gains and it’s too early to say the housing market is recovering.

The business news you need

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

Get up-to-the-minute news sent straight to your device.

Topics

Breaking News

News Alert