United States: Home prices rise at fastest annual clip in over a year
November 24, 2015
In September, the unadjusted S&P/Case-Shiller 20-city home price composite index increased 0.2% over the previous month. The result was below the 0.3% increase tallied in August and the 0.4% increase expected by the market.
Home prices rose 5.5% over the same month last year, which was higher than the 5.1% rise recorded in August and marked the largest increase since August of last year. S&P pointed out that annual price increases were greater in 17 of the 20 cities surveyed.
According to the director of the index, “home prices and housing continue to show strength with home prices rising at more than double the rate of inflation.”
Author: Carl Kelly, Economist