Home Price Gains Pick Up the Pace
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NAHB’s sentiment survey reflects “current strength,” Blitzer says.
NEW YORK CITY—The latest S&P/Case-Shiller numbers broadly reflected economists’ expectations of a slight uptick in US home prices. Data released Tuesday by S&P Dow Jones Indices showed the biggest gain in the past year, with improvements seen in annual housing price increases for August compared to July across all three S&P/Case-Shiller indices. Not surprisingly, Western cities registered the highest gains.
San Francisco and Denver were the only cities among the 20 tracked by S&P Dow Jones to record double-digit year-over-year increases, each with 10.7%. Portland, OR, which came in third on a Y-O-Y basis, posted the highest monthly gain, with prices up 1.1% in August compared to July. These three cities were among the 15 that recorded higher annual increases in June compared to the previous month…
