Economy

Home prices up at 0.5% pace in August

Home prices up at 0.5% pace in August”

It is increasingly hackneyed to say it, but home price appreciation accelerated yet again in August.

The S&P CoreLogic Case-Shiller home price index rose more than expected in August, hitting an all-time high.

And with its 0.9 percent gain in August, the index for Bay Area condos is running 7.3 percent higher versus the same time past year and 28.3 percent above its previous cycle peak in October 2005. In August, Seattle led the way with a 13.2 percent year-over-year price increase, followed by Las Vegas with an 8.6 percent increase, and San Diego with a 7.8 percent increase.

The 20-city index was up 5.9% on the year compared with a 5.8% increase the month before, but slightly lower than expectations for 6% growth. Nine cities reported greater price increases in the year ending August 2017 versus the year ending July 2017. That's heated up competition for properties on the market and pushed up prices.

Meanwhile, the national Home Price NSA index covering all nine United States census divisions was up 6.1% in August compared to 5.9% the previous month.

"Housing costs are rising, competition among buyers is fierce and the number of homes actually available to buy is at historic lows - and still, the US homeownership rate is on the rise, climbing for the second straight quarter to its highest level since 2014 and proving American home buyers are nothing if not tenacious and resourceful", said Dr. Svenja Gudell, Zillow's chief economist.



Like this

loading...
loading...

Latest


31 October 2017
Cliffs Natural Resources Inc (CLF) Could Go to $10
Finally, The Manufacturers Life Insurance Company boosted its holdings in Cliffs Natural Resources by 27.0% in the 2nd quarter. After this purchase, 2,855,296 common shares of CLF are directly owned by the insider, with total stake valued at $18,016,918.

31 October 2017
US Consumer Confidence Jumps To Nearly 17-Year High In October
The high level of confidence suggests the economy will continue to expand "at a solid pace" for the rest of 2017, Franco added. Economists monitor confidence because consumer spending accounts for about 70 percent of USA economic output.

31 October 2017
Jose Mourinho "disappointed" with Manchester United fans' lack of support
Jurgen Klopp got one over on his best mate and fellow manager David Wagner as Liverpool beat Huddersfield 3-0 at Anfield. There was also an uninspiring performance in the Champions League against Benfica sandwiched between those two displays.

31 October 2017
Alabama DB Deionte Thompson indicted in Spring Break beach brawl
Alabama redshirt sophomore DB Deionte Thompson was indicted on an assault charge on Monday stemming from an arrest this spring. One woman told Galveston County Sheriff's Office detectives that she saw Frillou get hit by Morris Joseph.

31 October 2017
Pregnant Duchess is a hit at Tennis for Kids event
She is set to watch some on-court sessions including a Tennis for Kids event and meet some of the UK's top junior talents. Kate said she'd also "spoken to Judy Murray , who advised her to take the racket away and just focus on skills".

31 October 2017
The Irish origins of Halloween explained
China: The Chinese equivalent of Halloween is Teng Chieh, which celebrates the connections between the living and the dead. Here is some spooky background information about Halloween, celebrated annually in the United States on October 31.

31 October 2017
Rail Strike Set To Go Ahead
The rail unions are seeking a flat rate pay increase of 3.75% for staff but Irish Rail says it can not afford pay increases. Further strike action is expected to be planned beyond these dates should no agreement by found by then.

31 October 2017
Climate Change Already Hurting Our Health and Economy
The report, which is funded through Wellcome's Our Planet, Our Health programme, highlights major health impacts that are already affecting millions of people.

31 October 2017
See fall 2017 safety grades for 77 MI hospitals
MI ranks 36th in the country for percentage of "A" hospitals - only 19 of the 77 hospitals in the state were given an A. If you would like to see how your hospital measures up, you can see the grades for every Washington hospital here .

31 October 2017
Eastern Libya town reports airstrike kills, wounds dozens
It is now under the control of an alliance of extremists and former members of the "Shura Council of the Derna Mujahideen". A 2015 UN-backed peace deal has failed to unite warring factions.