House prices in the 20 metropolitan areas rose 0.3% in September, rising for the sixth consecutive month

House prices in the 20 metropolitan areas rose 0.3% in September, rising for the sixth consecutive month. According to the S&P/Case-Shiller released on the 27th...

According to the S&P/Case-Shiller house price index released on the 27th, U.S. house prices rose for the sixth consecutive month in September, showing that the housing market is recovering.

S&P/Case-Shiller The composite index of house prices in the 20 metropolitan areas rose 0.3% in September, after rising 0.8% in August. Home prices in 20 metropolitan areas rose 3% from the same period last year.

Analysts said that the timing has entered the weak part of the year, but the housing market continues to improve. Home prices rose in September in 13 of the 20 metropolitan areas tracked by the index. Housing prices in Phoenix have increased by 20 percent this year compared to the same time last year, the most. After 26 straight months of declines, Atlanta home prices are finally up 0.1% from a year ago.

Compared to September 2011, housing prices in Chicago and New York fell by 1.5% and 2.3% respectively. The Case-Shiller index rose 3.6% year-over-year in the third quarter. And, 17 out of 20 cities saw increases.

Recent new housing starts, the home builder index and existing home sales have both increased. However, while persistently low mortgage rates have led to some buying, consumers still face strict credit standards, and officials say strict lending conditions will hinder a strong housing market recovery.

Despite recent gains, home prices are still down about 30% from their 2006 high.