Blitzer: Home Price Gains are Beginning to Hurt Sales

Posted To: MND NewsWire

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index put on a repeat performance for May. The index, which covers all nine U.S. census divisions, was up 6.4 percent, the same annual increase as was reported in April. There was a slight escalation in the monthly numbers, which estimated an increase of 1.1 percent before seasonal adjustment, and 0.4 percent afterward. In April the index rose 1.0 percent and 0.3 percent respectively. The two composite indices did decelerate slightly from their April pace. The10-City Composite gained 6.1 percent on an annual basis, down from 6.4 percent the previous month and the 20-City Composite's appreciation slowed from 6.7 percent to 6.5 percent year-over-year. On a month-over-month basis the 10-City was up 0.5 percent before adjustment and...(read more)

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