Skip to main content

Home Prices Continue Their Upward Movement

Oct 27, 2015
Home prices rose once again in August, according to the latest data released by the S&P/Case-Shiller Home Price Indices

Home prices rose once again in August, according to the latest data released by the S&P/Case-Shiller Home Price Indices.

The S&P/Case-Shiller U.S. National Home Price Index recorded a 4.7 percent annual increase in August 2015, up slightly from the 4.6 percent increase recorded in July. The 10-City Composite increased 4.7 percent in the year to August, up from 4.5 percent in the prior month, while the 20-City Composite’s year-over-year gain was 5.1 percent, up from 4.9 percent in the year to July.

Fifteen cities reported greater price increases in the year ending August versus the year ending July, with San Francisco and Denver posting 10.7 percent increases each. Phoenix is experiencing the longest streak of year-over-year increases, with the 4.9 percent level in August as its ninth consecutive increase in annual price gains.

David M. Blitzer, managing director and chairman of the Index Committee for S&P Dow Jones Indices, noted that the distinctive nature of the current economic environment is that rising home prices can be felt with greater severity.

“A notable part of today’s economy is the continuing low inflation rate; in the year to September, consumer prices were unchanged,” Blitzer commented. “Even excluding food and energy, the core inflation was 1.9 percent. One result is that a five percent price increase in the value of a house means more today than it did in 2005-2006, the peak of the housing boom when the inflation rate was higher. The rebound from the recent lows was faster than the 1997-2005 housing boom, and also much less driven by inflation.”

About the author
Published
Oct 27, 2015
Co-Founder Mat Grella Terminated From NEXA After Buyout Disagreement

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024