US House Prices Rise 1% in June

U.S. house prices rose 1% in June, reflecting an uptick in sales and a low supply of properties for sale, according to the S&P Case-Shiller 20-city composite index. After seasonal adjustment, prices fell 0.1%. Home prices in June were up 5% from a year earlier, little changed from May.

“Nationally, home prices continue to rise at a 4% to 5% annual rate, two to three times the rate of inflation,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.

Yet he also noted that builders have begun work on more homes, a trend that could help stabilize prices. The biggest year-over-year increases in prices occurred in Denver (10.2%), San Francisco (9.5%) and Dallas (8.2%).

via MarketWatch

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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