USA Bestselling Author Jeff Adams Said USA home prices rise less than expected. U.S. single-family home price rise in August on a year-over-year basis but fell short of expectations, a closely watched survey said on Tuesday.
The S&P/Case Shiller composite index of 20 city areas gained 5.6 % in August over last year, the slowest year-on-year last increase since November 2012, a little below a Reuters poll of economists that calculate a gain of 5.8 %. The latest data is open to analysis.
I have learned over the years forecasting home prices that the latest month is very important, but the trend is also vital so what we have seen nationwide is big increase a few months ago and now a softening. So what that means, the latest month suggests price decline might be coming, but if you mix that in, it's kind of a vague situation.
On a seasonally adjusted monthly basis, prices in twenty cities curved in 0.1 % for the month. A Reuter’s poll of economists had estimate an increase of 0.1 %. Non-seasonally adjusted prices rose 0.2 % in the 20 cities on a monthly basis, disappointing expectations for a 0.5 % rise.
The deceleration in home prices continues, despite the weaker year-over-year numbers, home prices are now showing an overall increase, as the National Index increased for its 8th consecutive month.
A broader measure of national housing market action now releasing on a monthly basis rose at a slower pace year over year, coming in at 5.1 %.
The seasonally adjusted ten-city gauge fell 0.2 % in August versus a 0.5 % decline in July, while the non-adjusted ten-city index rose 0.2 % in August compare to a 0.6 % rise in July. The housing recovery has been on a tear over the past few years, as the U.S. government sought to rouse the economy through quantitative easing and other programs, he noted.
No comments:
Post a Comment