US Home Prices Rises Less Than Forecasted in September

U.S. single-family home prices showed a stronger-than-expected rise in September on a yearly basis, but the rate of the increase decelerated from August, a closely watched survey showed on Tuesday.

“The overall trend in home price increases continues to slow down,” David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said in a statement.
The S&P/Case Shiller composite index of 20 metropolitan areas gained 4.9 percent in September over September 2013. In August, it rose 5.6 percent on a yearly basis. A Reuters poll of economists forecast a 4.6 percent increase.

Economist Robert Shiller told CNBC’s “Squawk on the Street” the reading was not exciting, and he noted that the winter season is historically slow for home sales.

”We haven’t expected exciting growth for a while, but it does look like seasonally adjusted home prices are still growing,” he said.

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