Print Edition - 2016-12-29  |  Money Digest

US housing prices grow


Dec 29, 2016-

Housing prices posted modest growth in most parts of the United States in October, according to industry figures released on Tuesday. The S&P Case-Shiller price index of 20 major cities saw a 0.6 percent increase on a seasonally adjusted basis in all of the metropolitan areas. The index rose 5.1 percent over the same month last year, up a tenth of a point over the gain recorded for October. The broader National Home Price Index was up 5.6 percent over October 2015, up from 5.4 percent in September. “Home prices and the economy are both enjoying robust numbers,” David Blitzer, head of the index committee at Dow Jones S&P Indices, said in a statement. “However, mortgage interest rates rose in November and are expected to rise further as home prices continue to outpace gains in wages and personal income.” (AFP) 

Published: 29-12-2016 09:17

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