Case-Schiller Reports Prices Up in 19 Markets, One Down, NYC | Chappaqua Real Estate

A dwindling supply of homes for sale is helping prices.

The Standard & Poor’s/Case-Shiller home price index for December shows home prices posted the biggest year-over-year increase last year in six years.

Boosted by decreasing inventory and increasing demand, the 20-city index shows prices rose 6.8% in 2012 compared to the year before with price hikes in 19 of 20 major cities tracked, according to the report released Tuesday. Only New York fell, down 0.5%.

On a monthly basis, the 20-city index gained 0.2% in December. Nine cities posted positive monthly gains in December.

The Case-Shiller national composite index, which covers all nine U.S. census divisions, posted a 7.3% gain in the fourth quarter over a year earlier”…

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