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Home Prices Continue Upward Trend
Are you or someone you know interested in buying or selling a home?The article, Case-Shiller: Home prices continue upward trend, from www.housingwire.com, reports that the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported an annual increase of 5.1% in June, unchanged from the month before. The 10-City Composite increased 4.3%, slightly less that May’s 4.4% increase. Similarly, the 20-City Composite increased 5.1% annually, down from May’s increase of 5.3%.“Home prices continued to rise across the country led by the west and the south,” says David Blitzer, S&P Dow Jones Indices Index Committee managing director and chairman. “In the strongest region, the Pacific Northwest, prices are rising at more than 10%; in the slower Northeast, prices are climbing a bit faster than inflation.” “Nationally, home prices have risen at a consistent 4.8% annual pace over the last two years without showing any signs of slowing,” Blitzer said. “Overall, residential real estate and housing is in good shape,” Blitzer said. “Sales of existing homes are at running at about 5.5 million units annually with inventory levels under five months, indicating a fairly tight market.” “Sales of new single family homes were at a 654,000 seasonally adjusted annual ... more

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