United States: Home price growth reflects ongoing strength in sector
October 28, 2015
In August, the unadjusted S&P/Case-Shiller 20-city home price composite index increased 0.4% over the previous month. The result was below the 0.6% increase tallied in July but just above the 0.3% increase expected by the market.
Home prices rose 5.1% over the same month of last year, which was just above the 4.9% rise recorded in July. S&P pointed out that annual price increases were greater in 15 of the 20 cities surveyed.
According to the director of the index, “home prices continue to climb at a 4% to 5% annual rate across the country. Most other recent housing indicators also show strength.”
Author: Carl Kelly, Economist