Home prices in August up fourth straight month

October 27, 2009 Share Print 0

House prices appear to be finally stabilizing after a disastrous fall in the previous year. The current trend could help the construction industry and overall employment figures if house prices continue to increase.

The Standard & Poor’s/Case-Shiller composite index of home prices in 20 metropolitan areas rose 1.2 percent in August from July, above the estimate of a 0.7 percent rise found in a Reuters poll. The increase, however, was less than the 1.6 percent seen in July, S&P said.

The composite index of prices in 10 metropolitan areas gained 1.3 percent in August after a 1.7 percent rise the previous month.

Reuters

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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.