Home value rose to close out the summer, according to the S&P/Case-Shiller Index, an oft-cited home-valuation tracker.
Nearly five-and-one-half years after April 2007 — the housing market’s national peak — prices are finally beginning to rebound.
According to the Standard & Poor’s Case-Shiller Index, home prices rose 6.9% between the first and second quarter of 2012, the largest quarter-to-quarter gain since the home-value tracker’s 1987 inception.
All 20 Case-Shiller Index markets improved between April and May 2012.
The number of U.S. housing markets showing “measurable and sustained growth” slipped by 20, according to the National Association of Homebuilders.
According to the March Case-Shiller Index, home values rose in 12 of 20 tracked markets, and one remained unchanged.
According to the Federal Home Finance Agency’s Home Price Index, home prices rose a seasonally-adjusted 0.3 percent between January and February 2012.
After a series of worse-than-expected data last month, the housing market appears to be back on track.
Recent data suggests that the U.S. housing market is in recovery, albeit an uneven one.
Standard & Poors released its December 2011 Case-Shiller Index this week.