30 Dec 2009

US house price index rises again

10:39 am on 30 December 2009

House prices in the United States rose in October for the fifth month in a row, according to a leading index.

Prices were 0.4% higher than they were in September on a seasonally-adjusted basis, the Standard & Poor's/Case-Shiller Home Price index said.

The BBC reports the index records the prices of homes in 20 of the largest cities in the US.

The recovery in the housing market continues to be uneven, with only 11 of the 20 cities tracked showing house price gains. On a yearly basis, prices were 7.3% lower.

Confidence among US consumers has also shown a larger-than-expected rise.

Improved optimism over the jobs market saw consumer confidence hit a three-month high in December, according to the Confidence Board.