A nationwide index rose 5.6% vs. a year earlier, best gain in two years and up from 5.4% in September.
The S&P CoreLogic Case-Shiller Indices showed a 5.6 percent increase in home prices for the 12 months that ended in October, up slightly from the record yearlong growth mark notched the month before.
In another study, Black Knight Financial Services (BKFS) found home prices in October were up 5.6 percent on a year-over-year basis and up 0.2 percent from the previous month.
USA home prices rose again in October as buyers bidding for scarce properties drove prices higher. "With the current high consumer confidence numbers and low unemployment rate, affordability trends do not suggest an immediate reversal in home price trends", he said. "Nevertheless, home prices can not rise faster than incomes and inflation indefinitely".
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Tuesday added another data point that confirms that observation with the release of the latest results for the S&P CoreLogic Case-Shiller Indices, a widely followed measure of US home prices.
Home prices in the United States have been on the rise since they bottomed out in February 2012, and experts say improved domestic economic indicators mean it's unlikely they will begin falling anytime soon.
Before seasonal adjustment, the month-over-month National Index showed a gain of 0.2%, the 10-City Composite was unchanged and the 20-City Composite posted rose 0.1%.
Prices rose 10.7% annually in Seattle, 10.3% in Portland and 8.3% in Denver. Seven of the nation's 40 largest metro areas also recorded house price peaks, with Florida accounting for eight of the top 10 markets for home appreciation, most notably in Daytona Beach and Punta Gorda (both at a 1.2 percent increase). The rapid pace of gains has also raised fears that prices, which topped their bubble-era high a year ago, could overinflate again. From the same period a year prior, prices saw a 5.1% increase, matching expectations. Blitzer noted that mortgage rates have moved up rapidly with home prices. The FHFA's report uses home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.