S&P/Case Shiller home prices index showed on Tuesday continious growth, in August home prices in the 20 cities climbed 2% year to year, after the 1,3 increase a month earlier. U.S. single-family home prices rose in August, the latest sign that the housing market recovery.
The S&P/Case Shiller composite index of 20 metropolitan areas grew 0.5% on a seasonally adjusted basis and it was the seventh straight month of increases. On a non-seasonally adjusted basis, prices fared better, gaining 0.9% both for 20 metropolitan areas and 10 metropolitan areas.
The S&P said in its statement that sustained good news in home prices "makes us optimistic for continued recovery in the housing market," calling the statistics being "positive".