S&P/Case Shiller U.S. National Home Index
Chart of the Week for December 2, 2016 - December 8, 2016
The S&P/Case-Shiller Home Price Indices are a three-month moving average of the selling prices of houses across the United States. Three composite indices are produced monthly: National, 10-City and 20-City. The chart above represents the Non-Seasonally Adjusted U.S. National Composite Index ("Index") for the period September 2015 through September 2016.
Existing home prices, as measured by the Index, rose 0.4% in September 2016 and rose 5.5% year-over-year. The Index is now above its pre-Great Recession high in July 2006. Reasons for the housing price recovery have included a healthy jobs market and historically low mortgage rates. Some economists are hopeful that the housing market may be turning from recovery mode to advancing mode.
Posted by: sarah_oz@yahoo.com
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