Charts of the Week
Case-Shiller U.S. Home Price Index
Chart of the Week for September 1, 2017 - September 7, 2017
Existing home prices, as measured by the S&P/Case Shiller U.S. 20-City Composite Index ("Index"), rose 0.1% in June 2017 compared to May 2017, and have increased 5.7% over the past 12 months. The Index remains down -3.1% from its peak in July 2006. The Index measures a three-month moving average of selling prices of houses in 20 metropolitan statistical areas in the U.S.
As noted in the chart above, prices were generally increasing from July 2016 through March 2017, but have remained relatively flat since March. Some economists cited tight market supply as causing homebuyers to put off purchases, which relieved some of the upward pressure on prices. Economists also see demand for housing rebounding, as stronger labor markets and rising household incomes may offset increased borrowing costs associated with potentially rising interest rates.
Posted by: sarah_oz@yahoo.com
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