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LPS: U.S. Home Prices Rise 8.8 Percent In October

Dec 30, 2013 | Reprints | Unlock Link | Print

U.S. home prices increased in October 8.8 percent year-over-year and 0.1 percent from the previous month, according to real estate data and analytics provider Lender Processing Services Inc., which released the latest monthly Home Price Index (HPI) this morning. The HPI compiles data from more than 18,500 U.S. ZIP codes.

The indexed U.S. home price was $232,000 in October, according to the HPI, virtually unchanged from the previous month and up from $213,000 in October 2012. Prices are still down 14.1 percent from their June 2006 peak of $270,000, according to the index.

Prices in Massachusetts rose faster than the national average, according to LPS. Bay State home prices averaged $329,000 for the month, up 0.7 percent from the previous month and 7.2 percent from October 2012. The average price was 9.1 percent below the state’s August 2005 peak of $361,000.

Residential Real Estate