Home prices continued to climb in third quarter, rising 11% from a year earlier. The S&P/Case-Shiller home price index registered its first double-digit year-over-year gain since early 2006 — just before the height of the housing bubble — despite a recent rise in mortgage rates.
However, the quarter-over-quarter gain slowed to 3%, compared with the second quarter, when prices jumped 7%.
“The data suggest a market beginning to shift to slower growth rather than one about to accelerate,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.