Home Prices Continue To Show Strength

The S&P/Case-Shiller Home Price Indices are considered among the leading measures of U.S. home prices. Released monthly, the index looks at house prices on a year-over-year and month-over-month basis. According to the most recent release, home prices are up 4.9 percent over last year. That represents a slight pickup from the previous report but remains within the overall trend. Generally, home prices are showing signs of stabilization after years of volatility. Recent data shows annual price increases repeatedly falling somewhere between 4 and 5 percent above last year’s level. David M. Blitzer, S&P Dow Jones Indices’ managing director and chairman of the index committee, says prices are likely to continue to grow. “Home prices and housing continue to show strength with home prices rising at more than double the rate of inflation,” Blitzer said. “The general economy appeared to slow slightly earlier in the fall, but is now showing renewed strength.” Blitzer also noted that, though home prices have continued to increase, a prospective home buyer making the median income can still afford to buy a median priced home. More here.

Comments are closed.