US House Prices Rose in August

U.S. home prices rose slightly in August from the previous month, thanks to measured but positive economic growth, rising prices and wider home affordability.
The S&P/Case-Shiller U.S. National Home Price Index, which measures all nine U.S. census divisions, was up 5.3 percent on an annual basis in August from 5.0 percent in July.

The S&P CoreLogic Case-Shiller 20-City Composite index also rose 5.1 percent year over year, up from July’s 5.0 percent.

“All 20 cities saw prices higher than a year earlier with 10 enjoying larger annual gains than last month,” David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, in a press release.

Looking ahead, “With the national home price index almost surpassing the peak set 10 years ago, one question is how the housing recovery compares with the stock market recovery,” he said.

via CNBC

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.