This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Home Prices Rise a Mere 0.2% in September

Stocks in this article: XHB IYR ^DJI

NEW YORK (TheStreet) -- Home prices barely moved in September, as demand for homes slowed on the back of higher interest rates.

According to LPS Home Price Index, home prices rose a mere 0.2% from the previous month. Prices are still up 9% on a year-over-year basis and the index is up 8.2% year-to-date.

Seven of the 20 largest states saw modest price declines, a sign that the recovery may have halted in some regions. Connecticut saw a 0.9% drop in home prices, while home prices in New Hampshire dipped 0.6%. Massachusetts, Pennsylvania, New Jersey and Washington were some of the other states that saw prices retreat slightly.

Nevada continued to see prices rise, posting a monthly gain of 0.8%. Arizona saw prices edge up 0.3%. In California, prices were unchanged, after accelerating at a scorching pace for most of this year. The pause might actually be welcome news, as some analysts have worried that prices have risen too fast in the state. Home prices in San Jose are almost back to their previous peak, according to LPS.

Texas continues to hit new highs, with prices up 7.5% this year. On the metro-level, Las Vegas continues to lead the gains, with prices up 26% year-over-year. Of course, home prices in the city are still more than 40% off its peak.

The LPS index is a repeat sales analysis of home prices based on transactions every month. It adjusts for prices of distressed sales such as short sales and foreclosures, which sell at a discount.

On Tuesday, we will have more housing data with the release of the S&P Case-Shiller Home Price Index for September. The Case-Shiller Index is based on a three-month moving average and does not adjust for distressed transactions. The Census Bureau will also release housing starts data for September, which was originally scheduled for release on Oct.17 but was delayed due to the government shutdown.

-- Written by Shanthi Bharatwaj in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs