Home Prices Continue Upward Trend

The S&P Case-Shiller Indices are considered among the leading measures of U.S. home prices. The indices cover all nine census divisions and have been keeping records for more than 30 years. According to their most recent release, S&P remains optimistic about home values. Results show prices have continued to rise since bottoming out in January. In fact, Craig J. Lazzara, managing director at S&P, says home prices have outpaced the typical annual increase. “On a year-to-date basis, the National Composite has risen 5.8 percent, which is well above the median full calendar year increase in more than 35 years of data.” Lazzara said. “Unless higher rates or other events lead to general economic weakness, the breadth and strength of this month’s report are consistent with an optimistic view of future results.” Though prices remain strong, regional differences persist, with the Midwest and Northeast remaining the nation’s strongest regions while the West and Southwest have seen weaker prices this year. (source)

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