US Home Prices Gain in July

September 27, 2016 Share Print 0

U.S. home price gains slowed slightly in July from the previous month, with the tentative forecast of a federal interest rate hike in December confirming continued expansion in the housing sector.

The S&P CoreLogic Case-Shiller 20-City Composite index rose 5.0 percent year-over-year, versus expectations for an increase of 5.1 percent.

“Both the housing sector and the economy continue to expand with home prices continuing to rise at about a 5 percent annual rate,” David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, said in a statement.

Topping the list of gainers was Portland, Oregon, with price appreciation of 12.4 percent. Seattle followed with an 11.2 percent increase, and Denver placed third with a 9.4 percent gain.

The S&P/Case-Shiller U.S. National Home Price Index, which measures all nine U.S. census divisions, was also up 5.1 percent in June from 5.0 percent the previous year.

via CNBC

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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.