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

Markets

NASDAQ 6,936.58 80.06 1.17%
S&P 500 2,675.81 23.80 0.90%
DJIA 24,651.74 143.08 0.58%
NIKKEI 225 22,553.22 -141.23 -0.62%
HANG SENG 28,848.11 -318.27 -1.09%
DAX 13,103.56 35.48 0.27%
USD (per EUR) 1.17 0.00 -0.21%
USD (per CHF) 0.99 0.00 0.20%
JPY (per USD) 112.57 0.19 0.17%
GBP (per USD) 1.33 -0.01 -0.82%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.