Case Shiller data is yet another source confirming that home price increases continued in August 2013. The 10-city and 20-city indexes each rose by 12.8 percent from August 2012. NAR data released last week showed a gain of 13.4 percent in the same period and showed continued but slowing gains of 11.7 percent in the year ending September 2013.
While this increase was the 15th consecutive month of year-over-year increases in home prices reported by the 20-city index and the 6th consecutive month of double-digit year-over-year gains, the index remains 20 percent below the peak it reached in July 2006.
NAR reports the median price of all homes that have sold while Case Shiller reports the results of a weighted repeat-sales index. Because home sales among higher priced properties have been growing more than among lower price tiers, the NAR median price has risen by more than the weighted repeat sales index—which computes price change based on repeat sales of the same property.
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