US Home Prices Slow Down in June

U.S. home prices rose in June by the smallest year-over-year amount in 20 months, slowed by modest sales and more properties coming on the market.

Data provider CoreLogic says prices rose 7.5 percent in June compared with 12 months earlier. That’s a solid gain but less than the 8.3 percent year-over-year increase in May and a recent year-to-year peak of 11.9 percent in February.

On a month-to-month basis, June prices rose just 1 percent, down from 1.4 percent in May. But CoreLogic’s monthly figures aren’t adjusted for seasonal patterns, such as warmer spring weather.

The slowing price gains should make buying a house more affordable. Prices had risen sharply last year, along with mortgage rates. Many would-be buyers, particularly younger ones, were priced out of the market as a result.

via CNBC

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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