The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 5.8% annual gain for June, 2017. Their 10-City Composite annual increase came in at 4.9% and their 20-City Composite posted a 5.0% year-over-year gain. Seattle once again led the way with a 13.4% year-over-year price increase, followed by Portland at 8.2%, and Dallas with a 7.7% increase. Nine U.S. cities reported greater price increases in the year ending June 2017 versus the year ending May 2017.
“The trend of increasing home prices is continuing,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “Price increases are supported by a tight housing market. Both the number of homes for sale and the number of days a house is on the market have declined for four to five years. Currently the months-supply of existing homes for sale is low, at 4.2 months. In addition, housing starts remain below their pre-financial crisis peak as new home sales have not recovered as fast as existing home sales.”
Click here to read the full report.
