Despite expectations for an 4.1 percent increase in the October Case-Shiller Home Price Index, the 20-City Composite rose by 4.3 percent. Economists had been expecting the October Case-Shiller Home Price Index 20-City Composite to increase by 4.1 percent, compared with September’s 3.0 percent increase.  The result beat expectations with the 20-City Composite increasing by 4.3 percent.  The 10-City Composite rose by 3.4 percent. From the report: Data through October 2012, released today by S&P Dow Jones Indices for  its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showed home prices rose 4.3% in the 12 months ending in October in the 20-City Composite, out-distancing analysts’ forecasts. Anticipated seasonal weakness appeared as twelve of the 20 cities and both Composites posted monthly declines in home prices in October. The 10- and 20-City Composites recorded respective annual returns of +3.4% and +4.3% in October 2012 – larger than the +2.1% and +3.0% annual rates posted for September 2012.  In nineteen of the 20 cities, annual returns in October were higher than September.  Chicago and New York were the only two cities with negative annual returns in October.   Phoenix home prices rose for the 13th  month in a row.   San Diego was second best with nine consecutive monthly gains.   The Case-Shiller Index was consistent with the result obtained by Lender Processing Services, which also reported a 4.3 percent increase in its own Home Price Index , which was based on a survey of over 15,500 zip codes. Also on Wednesday, the Federal Reserve Bank of Richmond released its Fifth District Survey of Manufacturing Activity .  Although the survey was expected to indicate a decrease in its December Composite Manufacturing Index to 6 from November’s 9, the index sank to 5.   Banks Positioned to Pull the Broad Market Higher in 2013? From the report: In December, the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — lost four points, settling at 5 from November’s reading of 9.  Among the index’s components, shipments fell five points to 6, the gauge for new orders was almost unchanged at 10, and the jobs index turned negative, losing six points to −3. Other indicators varied.  The index for capacity utilization moved higher, adding six points to 3, while the backlogs of orders slipped two points to end at −11.  The delivery times index picked up three points to 3, while our gauges for inventories were mixed in December.  The raw materials inventory index gained three points to finish at 24, while the finished goods lost seven points to 12. The major ETFs expected to respond to the Case-Shiller Home Price Index and the Richmond Fed’s Fifth District Survey of Manufacturing Activity are: Vanguard REIT ETF (NYSERACA:VNQ)  -0.46% iShares Dow Jones U.S. Real Estate ETF (NYSEARCA:IYR)  -0.49%   Learn More About iShares ETFs iShares Dow Jones U.S. Home Construction Index Fund (NYSEARCA:ITB)  -0.72% SPDR S&P Homebuilders ETF (NYSEARCA:XHB)  -0.99% Industrial Select Sector SPDR ETF (NYSEARCA:XLI)  -0.34% 4 ETP Trends for 2013 Bottom line:  The Case-Shiller Home Price Index rose slightly more than expected, to 4.3.  The result was consistent with the Home Price Index prepared by Lender Processing Services. Sign up for Wall Street Sector Selector’s FREE Stock Market Timing Indicator!    Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer , Terms of Service , and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.