US home prices rise 6.2% year-over-year in August

Prices are forecast to rise 5.3% over the next year: Case-Shiller

TRD New York /
Oct.October 25, 2016 11:05 AM

Home prices in the U.S. are on the rise, as lack of inventory and low interest rates help push prices upwards.

The S&P CoreLogic Case-Shiller Index, which measures home prices nationwide, reported 6.2 percent growth in home prices in August, year over year, and a forecast of 5.3 percent growth in the next 12 months, up slightly from the 5 percent increase projected in July.

The 10-city index gained 4.3 percent, compared to 4.1 percent in July, and the 20-city index gained 5.1 percent up from the 5 percent increase reported in July, with price acceleration highest in Tampa, Phoenix and New York.

Other indicators also point to a strengthening housing market. Single-family starts rose 8.1 percent in September to 783,000, according to the Commerce Department, which is still far below the historical average of 1.4 million starts per year.

The share of first-time buyers rose to 34 percent in September, the highest since July 2012, according to the National Association of Realtors.

Month-over-month prices rose 0.5 percent in August before seasonal adjustment, and 0.6 percent. [WSJ]Chava Gourarie 


Related Articles

arrow_forward_ios
Clockwise from right: Hong Kong; Columbo, Sri Lanka; and Zagreb, Croatia (Credit: Wikipedia, iStock)

The best real estate markets on earth over the last decade

The best real estate markets on earth over the last decade
Home buyers have for decades been advised to never put a less than 20 percent down payment on a house, but 70% of young home-buyers are willing to break that rule this year (Credit: iStock)

Millennials are ready to break the golden rule of home-buying

Millennials are ready to break the golden rule of home-buying
Keeping lawns freshly cut and outdoor spaces in tip-top shape could result in greater rewards for sellers. (Credit: iStock, IMDB)

Curb your enthusiasm: Homes with spruced-up outsides sell at premium

Curb your enthusiasm: Homes with spruced-up outsides sell at premium
Seattle, Washington (Credit: iStock)

Good luck buying an affordable home in these US cities

Good luck buying an affordable home in these US cities
Home prices are on the rise, and homeowners are opting to stay in their homes longer (Credit: iStock)

Home prices accelerate nationally as owners stay longer

Home prices accelerate nationally as owners stay longer
The Mountain States saw the fastest home-price growth of any region (Credit: iStock)

Millennials head west for housing, and institutional investors follow

Millennials head west for housing, and institutional investors follow
NYC startup is under contract to buy its first Miami condo as crowdfunding investment

NYC startup is under contract to buy its first Miami condo as crowdfunding investment

NYC startup is under contract to buy its first Miami condo as crowdfunding investment
From left: London, Shanghai and Paris

In London, WeWork already reaping rewards of planned Brexit: Global property

In London, WeWork already reaping rewards of planned Brexit: Global property
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...