United States Housing August 2016

United States

United States: House prices inch up in August

October 25, 2016

The S&P/Case-Shiller 20-city home composite index rose 0.4% in August over the previous month. The result, which marked a fourth consecutive monthly moderation, came in below the 0.6% increase recorded in July, but overshot the 0.3% rise the markets had expected. When adjusted for seasonal factors, home prices increased 0.2% over the previous month, which came in above the flat reading observed in July.

In annual terms, home prices rose 5.1% in August, which edged up from the 5.0% increase recorded in July. In a statement, S&P said that Denver, Portland and Seattle continued to report strong increases in prices.

According to S&P, “supported by continued moderate economic growth, home prices extended recent gains.” S&P also signaled that, “other housing data including sales of existing single family homes, measures of housing affordability, and permits for new construction also point to a reasonably healthy housing market.”

Author:, Senior Economist

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United States Housing Chart

USA Housing August 2016

Note: S&P/Case-Shiller Composite-20 home price value index and month-on-month non-seasonally adjusted variation.
Source: Standard & Poor’s.

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