Home Prices Countinue To Move Upwards
Home prices rose in August for a third consecutive month. Case-Shiller composite-10 index rose 1.3% in August to 157.93 with the composite-20 index up 1.2% to 146.00. Bloomberg story: Home Prices in 20 U.S. Cities Rise for Third Month.
Chart 1. S&P/Case-Shiller Home Price Indices
Source: Standard & Poor's and Fiserv
Positive, but it was in August at the most favorable season for home buyers, coupled with tax stimulus. It’s a no surprise for a positive reading having in main also record low mortgage rates. The real question is how will the housing market perform during the winter months.