Charts of the Week
Case-Shiller U.S. National Home Price Index
Chart of the Week for September 28, 2018 - October 4, 2018
Existing home prices, as measured by the S&P/Case-Shiller U.S. National Composite Index ("Index"), rose 0.4% in July 2018 compared to June 2018, and have increased 6.0% over the past year. The Index is up 11.2% from its peak in July 2006. The Index is a composite of single-family home price indices for the nine U.S Census divisions and is calculated monthly.
The Index has generally increased over the past year, and has increased every month in 2018. Economists note however, that year-over-year growth in prices has been decreasing for five consecutive months as 30-year mortgage rates are at their highest level since 2011. The strong labor market and expected increases in future wage growth have some economists believing those factors can offset the increase in mortgage rates and keep home prices increasing for the next couple of years.
Posted by: sarah_oz@yahoo.com
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