Home Prices Spike Across The Nation
Data released today shows home price gains improved in July both annually and month-over-month.
Year-over-year, prices rose 1% after not moving at all the month prior, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index.
Prices were up 0.6% month-over-month, both before and after seasonal adjustment. This is the sixth consecutive month of increases.
Home prices are now at all-time highs in half the cities analyzed, and prices rose in all 20 cities after seasonal adjustment (19 of them before adjustment, as well). The National Composite surpassed its previous record high with this data.
Craig Lazzara, managing director at S&P DJI, noted that regional differences remain “striking.”
“On a year-over-year basis, the Revenge of the Rust Belt continues.…