National home value measures all in the black for 2012, S&P reveals

Atlanta was one of several cities that witnessed strong home price gains in 2012.The leading measure of U.S. home prices corroborates the fact that the housing market in 2012 closed out the year with flying colors.According to Standard and Poor's/Case-Schiller Home Price Indices, all three of its measurements – the national composite, as well as the 10- and 20-city composites – finished in positive territory, each of which was up more than 5 percent in year-over-year gains.David Blitzer, chairman of the index committee at S&P Dow Jones, indicated that much of the improvements made in the national economic picture in 2012 derived from the nation's housing climate, particularly in the year's closing months.”Housing and residential construction lead the economy in the 2012 fourth quarter,” said Blitzer. “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.”Some of the most significant increases were in metro areas like Atlanta and Detroit, posting annual home price increases of 13.6 and 10 percent, respectively.Houston homes know something about flourishing. Sales of Houston properties “never let up” in 2012, as the Houston Association of Realtors notes, with home values increasing throughout the 12-month period.
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