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The S&P CoreLogic Case-Shiller U. S. National Home Price NSA Index, covering all nine U. S. census divisions, reported a 5.8% annual gain in June, up from 5.7% the previous month. The 10-City Composite posted a 4.9% annual increase, down from 5.0% the previous month. The 20-City Composite reported a 5.7% year-over-year gain, the same as the previous month.
Seattle, Portland, and Dallas reported the highest year-over-year gains among the 20 cities. In June, Seattle led the way with a 13.4% year-over-year price increase, followed by Portland with 8.2%, and Dallas with a 7.7% increase. Nine cities reported greater price increases in the year ending June 2017 versus the year ending May 2017.
Once again, the Case-Shiller 20 Metro home price index is rising over twice as fast (2x) as wage growth for the majority of the US population.
This post was published at Wall Street Examiner by Anthony B Sanders ‘ August 29, 2017.