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US Home Prices Hit Record With Eight Straight Months of Gains

From bnnbloomberg.ca

Home prices in the US extended their climb, reaching a fresh record high. A national gauge of prices rose 0.7% in September from August, according to seasonally adjusted data from S&P CoreLogic Case-Shiller. It was the eighth straight month of gains for the index, which doesn’t provide a specific dollar figure for homes. Mortgage rates above 7% have chilled the housing market, keeping both would-be buyers and sellers on the sidelines. Shoppers determined to land a purchase often get dragged into bidding wars for the scant supply of listed properties. The persistent inventory crunch has driven prices up since the ... (full story)

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  • Category: Fundamental Analysis