Data through May 2013, released this week by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, a leading measure of U.S. home prices, showed increases of 2.5% and 2.4% for the 10- and 20-City Composites in May versus April. Dallas and Denver reached record levels surpassing their pre-financial crisis peaks set in June 2007 and August 2006.
This is the first time any city has made a new all-time high. The 10- and 20-City Composites annual returns rose slightly from April to May as they posted the best year over-year gains since March 2006. All 20 cities increased from May 2012 to May 2013 and from April 2013 to May 2013.
â€śHome prices continue to strengthen,â€ť says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. â€śTwo cities set new highs, surpassing their pre-crisis levels and five cities â€“ Atlanta, Chicago, San Diego, San Francisco and Seattle â€“ posted monthly gains of over three percent, also a first time event.â€ť
These record-breaking statistics reflect the message that leading industry brokers have been sending to their agents and consumers as the housing turnaround has unfolded: that now is a good time to buy.