Housing Prices at 20-month High

Before you go, we thought you'd like these...
Before you go close icon

U.S. home prices rose for the sixth consecutive month in August, to a 20-month high according to real estate information provider FNC Inc. In the country's 100 largest metropolitan areas, home prices rose at a non-adjusted rate of 0.3% month-over-month. Year-over-year home prices are up 1.5%, and year-to-date prices are up 5%.

In its press release FNC noted:

The majority of the markets tracked by the FNC 30-MSA composite index show continued price improvement in August, although generally at a subdued pace. ... Month-to-month, home prices rose 3.1% in Los Angeles, 2.2%-Phoenix, 2.1%-Sacramento, 1.7%-Detroit, 1.6%-Columbus. Based on a three-month moving average (June, July, and August), Detroit, Phoenix, San Francisco, and Los Angeles show the best price momentum, averaging 2.8%, 2.7%, 1.7%, and 1.5% per month, respectively.

The firm also noted that between January and August home prices rose 15.2% in Phoenix, an average of 2.2% a month and the strongest growth among the metropolitan areas included in the research.

The press release with tables is available here.

Paul Ausick

Read Full Story

Markets

S&P 500 2,191.95 0.87 0.04%
DJIA 19,170.42 -21.51 -0.11%
NASDAQ 5,255.65 4.55 0.09%
DAX 10,513.35 -20.70 -0.20%
HANG SENG 22,564.82 -313.41 -1.37%
NIKKEI 225 18,426.08 -87.04 -0.47%
USD (per EUR) 1.07 0.00 0.06%
USD (per CHF) 1.01 0.00 -0.01%
JPY (per USD) 113.48 -0.41 -0.36%
GBP (per USD) 1.27 0.01 1.16%

From Our Partners