Home Prices Rise In September

Home prices rose month-on-month in September for the first time since April.

The latest S&P/Case-Shiller home price index showed home prices rose 0.34% in September, roughly in-line with expectations for a 0.3% increase.

Year-over-year, home prices rose 4.9%, better than the 4.6% that was expected but down from the last report's 5.6% increase.

These gains, however, still show what the release called a "broad-based slowdown for home prices."

As of September, the average home price for the 20-city Case-Shiller index is back to levels seen in the fall of 2004, and still about 15% below the 2006 peak.

More to come ....