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OCTOBER HOME PRICES RISE MORE THAN EXPECTED
At 9:00 AM ET today, we’ll get the The October reading of the Case-Shiller home price index is out and it’s a beat.
The seasonally adjusted 20-city index climbed 0.66 percent from September. Economists were looking for an increase of 0.48.
On a year-over-year basis, prices jumped 4.31 percent, which was ahead of the 4.00 percent expected.
“As we enter the seasonally slow months, volatility in prices is somewhat unavoidable, as sales retreat and foreclosures make up a larger portion of total sales,” said Wells Fargo economist John Silvia.
Here’s a city-by-city breakdown:
Here’s a look at the 20-city index: