Data through December 2012, released Tuesday by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, showed that all three headline composites ended the year with strong gains. The national composite posted an increase of 7.3% percent for 2012. The 10- and 20-City Composites reported annual returns of 5.9 percent and 6.8 percent in 2012. Month-over-month, both the 10- and 20-City Composites moved into positive territory with gains of 0.2 percent, more than reversing last month’s losses.
“Home prices ended 2012 with solid gains,” said David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices. “Housing and residential construction led the economy in the 2012 fourth quarter. In December’s report all three headline composites and 19 of the 20 cities gained over their levels of a year ago. Month-over-month, nine cities and both Composites posted positive monthly gains. Seasonally adjusted, there were no monthly declines across all 20 cities.