Research - DECEMBER 27, 2016

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Housing prices return to pre-recession level

by Larry Gray

National home prices have climbed back to the 2006 peak achieved prior to the global financial crisis and the single-family housing market crash, according to the most recent data from the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. At its 2006 peak the index measured 184.62, while the latest data through October 2016 pegged the index at 185.06.

“Home prices and the economy are both enjoying robust numbers,” stated David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, in a press release. “However, mortgage interest rates rose in November and are expected to rise further as home prices continue to outpace gains in wages and personal income.”

In October, the national index gained 0.2 percent from the previous month, before seasonal adjustment, and 0.9 percent after seasonal adjustment. The national index reported a 5.6 percent annual gain in October.

Index data a

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