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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

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US Home Prices Rise 5.5% in Sept: S&P/Case-Shiller

CNBC
Updated
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Home prices in 20 U.S. cities rose more than expected in September, according to the latest S&P/Case Shiller Home Price Index.

The 20-city composite rose 5.5 percent year over year in September, compared with consensus estimates for a 5.2 percent rise.

The S&P Case Shiller U.S. National Home Price Index, which measures all nine U.S. census divisions, was up 4.9 percent from the same time last year, ticking up at a slightly faster pace than August’s 4.6 percent increase.

The latest read is a sign that housing continues to show strength as home prices rise at more than double the rate of inflation, said David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices.

Read More New mortgage rules: Like ‘Y2K’ panic

“The general economy appeared to slow slightly earlier in the fall, but is now showing renewed strength,” he said in a statement.