Home prices gain for fifth month in June: S&P
NEW YORK (Reuters) - U.S. single-family home prices gained for the fifth month in a row in June, a fresh sign of improvement in the housing market, a closely watched survey showed on Tuesday.
The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.9 percent on a seasonally adjusted basis, topping economists' forecasts for 0.5 percent, according to a Reuters poll.
On a non-seasonally adjusted basis, prices were even stronger, up 2.3 percent.
'We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change,' David Blitzer, chairman of the index committee at Standard & Poor's, said in a statement.
'The market may have finally turned around.'
Prices in the 20 cities rose 0.5 percent compared to the year before.
For the second quarter, seasonally adjusted national prices jumped 2.2 percent compared to the 1.4 percent gain that was seen in the first quarter.
(Reporting by Leah Schnurr; Editing by Chizu Nomiyama)
Doug Spiers / Principal Broker
Blog Archive2016-05-12 10:27:02
Where is Housing Headed for the Rest of 2016?
Something home sellers need to consider
Mortgage Rates Remain at Historic Lows
4 Reasons to Move Up to Your Dream Home This Sprin
Best Long-Term Investment
No Matter Which Groundhog You Listen To...
Existing Home Sales Bounce Back
Real Estate News You Need to Know Wed. 12/9/15
2016 Home Prices and Rates?
2016 Home Prices?
New Home Sales Surge
30-Year Fixed Mortgage Rates Fall to 5-Month Low;
What you need to know today.
Rates Today July 22,2015
Mortgage Rates Hit 19-Month Low
30-Year Fixed Mortgage Rate Up From 19-Month Low;
30-Year Fixed Mortgage Rates Drop
Housing Market Looking Up
US housing recovery appears to be back on track
4 in 10 US households use cellphones only
Pending Home Sales Surge 6.1%
Pending Home Sales 4/28/14
30-year-mortgage rate rises to 4.35%
Click here to see ALL articles.