realtytimes.com - There is no doubt that the residential housing market gained momentum in 2012. As the New Year begins with mortgage rates remaining low, it is expected that this movement towards recovery will continue to bring improvements that will filter down into other areas of the economy. This past week, data reflected that, even though housing has entered its slow season, this sector is still experiencing gains in both sales and values.
According to the S&P/Case-Shiller Home Price Indices (HPI), home prices increased for the twelve months ending in October. The 10 City Composite Index rose 3.4% on an annual basis and the 20 City Composite rose 4.3%. As of October 2012, average home prices nationwide were back to autumn 2003 levels.
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