NEW YORK Nov 27 U.S. single-family home prices
rose in September for an eighth straight month in a further sign
that the housing market is on the mend, a closely watched survey
showed on Tuesday.
The S&P/Case Shiller composite index of 20 metropolitan
areas gained 0.4 percent in September on a seasonally adjusted
basis, in line with economists' forecasts.
The index's eighth month of gains on a seasonally adjusted
basis is the longest since prices bounced in 2009 after the
government unleashed stimulus measures following the market's
collapse the previous year.
"This is the positive trend that prices have been on for the
past year. The housing sector continues to recover," said Peter
Hooper, global chief economist at Deutsche Bank.
Prices in the 20 cities rose 3.0 percent year over year,
just topping expectations for a rise of 2.9 percent.
"In September's report all three headline composites and 17
of the 20 cities gained over their levels of a year ago," David
Blitzer, chairman of the index committee at Standard & Poor's,
said in a statement.