Home Prices Continue to Climb
The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index says that for August, 2016 home prices continued to rise across the country. The report showed a 5.3% annual gain in August, up from 5.0% last month. In addition, their 10-City Composite posted a 4.3% annual increase, up from 4.1% the previous month and their 20-City Composite reported a year-over-year gain of 5.1%, up from 5.0% in July.
“…While the stock market recovery has been greater than the rebound in home prices, the value of Americans’ homes at about $ 22.3 trillion is slightly larger than the value of stocks and mutual funds at $ 21.2 trillion.” Said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.