Don't Bet on a Home Price Reversal Just Yet

Posted To: MND NewsWire

Although home prices were generally expected to begin cooling off by the middle of 2017, the most recent Case-Shiller Home Price Index suggests the strong performance doesn't show signs of stopping . A 5.8 percent year-over-year increase in June just sent the National Home Price Index to another all-time high. The index, which covers all nine U.S. census divisions, established a new peak for the seventh consecutive month. The June increase was 0.1 percentage point higher than the annual gain in May. Before seasonal adjustment the index rose 0.9 percent compared to May and after adjustment it was up 0.4 percent. The 10-City Composite Index was up 4.9 percent year-over-year, a slight downtick from its 5.0 percent gain a month earlier, while the 20-City Composite posted the same 5.7 percent annual...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Mortgage News Daily http://ift.tt/2voy6q5