Home Prices Continue to Rise with Strong Demand and Tight Inventory

Filed in Affordability, Economics by on December 2, 2019 1 Comment
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National home prices rose at a faster annual growth rate in September compared to the previous month. The Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 4.7% in September, following an increase of 4.3% in August.

Seattle reported the highest gain while three metro areas — San Francisco, Chicago and Boston — experienced home price declines in September.

On a year-over-year basis, the Case-Shiller U.S. National Home Price NSA Index posted a 3.2% annual gain in September, up from 3.1% in August. Lower mortgage rates and a solid labor market boost housing demand. Home price appreciation continues with strong demand and tight inventory.

home-price-index

Meanwhile, the Home Price Index, released by the Federal Housing Finance Agency (FHFA), rose at a seasonally adjusted annual rate of 7.7% in September, following a 2.5% increase in August. On a year-over-year basis, the FHFA Home Price NSA Index rose by 5.1% in September, after an increase of 4.8% in August.

NAHB economist Jing Fu shares more in a recent Eye on Economy post.

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  1. Omer Khan says:

    Thats really helpful. Thanks for sharing. Keep up with the good work.

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