US House Prices Rise in January

U.S. single-family home prices rose in January and slightly beat expectations, a closely watched survey said on Tuesday.

The S&P/Case-Shiller composite index of 20 metropolitan areas rose 0.8 percent in January on a seasonally adjusted basis. A Reuters poll of economists had forecast a 0.7 percent rise.

“The housing recovery may have taken a breather due to the cold weather,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices, speaking to the 0.1 percent price drop on a non-seasonally adjusted basis.

“From the bottom in 2012, prices are up 23 percent and the housing market is showing signs of moving forward with more normal price increases.”

Prices in the 20 cities rose 13.2 percent year over year, just shy of expectations for 13.3 percent.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza