Housing Prices at 20-month High

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
  • DJI26252.2449.510.19%
    NASDAQ7991.39-28.82-0.36%
  • NIKKEI 22520628.019.440.05%
    Hang Seng26048.72-221.32-0.84%
    DAX11747.04-55.81-0.47%
  • USD (PER EUR)1.11-0.0009-0.08%
    USD (PER CHF)1.02-0.0015-0.15%
    JPY (PER USD)106.41-0.1770-0.17%
    GBP (PER USD)1.230.01221.01%