United States: Home price growth maintains pace in June
July 28, 2015
In June, the unadjusted S&P/Case-Shiller 20-city home price composite index increased 1.0% over the previous month. The result was slightly below the 1.2% increase tallied in May and met the 1.0% increase expected by the market.
Home prices rose 5.0% over the same month of last year, which also matched the rise recorded in May. S&P pointed out that annual price increases were greater in 11 of the 20 cities surveyed.
According to the director of the index, “Nationally, home prices continue to rise at a 4-5% annual rate, two to three times the rate of inflation. Two possible clouds on the horizon are a possible Fed rate increase and volatility in the stock market.”
Author: Carl Kelly, Economist