S&P Survey Suggests Softening Housing Market
Annual gains in home prices have slowed in recent months, raising concerns over possible weakening of the housing market.
Average U.S. home prices in July were up 3.2 percent over those from 12 months earlier, according to the newest Standard & Poor’s/Case Shiller Home Price Index of 20 major U.S. housing markets. Although a modest gain, it was less than the 4.2 percent annual increase reported in June – which itself was down from 4.6 percent in May.
Those declines were the first after 16 consecutive months of improving annual rates of return in the S&P/Case Shiller survey. Although prices continue to show modest increases month-to-month, the change in annual rates of return is considered a more reliable indicator of long-term trends.
S&P Survey Suggests Softening Housing Market.
Stumble Upon
Del.icio.us
Buzz
