Climbing above the highs not seen since the the pre-recession era, the price of U.S. homes reached a new record in September, as Forbes staff writer Lauren Gensler reported.
Based on figures from the S&P/Case-Shiller U.S. National Home Price Index, there was a 5.5 percent rise in the price of single-family homes in September. Following the 5.1 percent increase in August, the market is continuing on the road to recovery.
"The new peak … will be seen as marking a shift from the housing recovery to the hoped-for start of a new advance," said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.
September prices mark a four-year rebound from a time when millions of Americans were struggling after losing their homes, according to The Wall Street Journal. At that time in 2012, prices were 27 percent below the July 2006 peak.