Mortgage Industry News
« Return to Mortgage Industry News
Perfect Storm For Home Prices?
Tuesday, September 29, 2020
The growth of home prices
nationally continued to accelerate in July according to the S&P CoreLogic
Case-Shiller U.S. National Home Price NSA Index. The National Index, which
covers all nine U.S. census divisions, rose 4.8 percent in July on an annual
basis compared to a 4.3 percent year-over-year gain in June. There was 0.8 percent
appreciation month-over-month before seasonal adjustment and 0.4 percent afterward. The 10-City Composite
grew at an annual rate of 3.3 percent, up from 2.8 percent the previous month
while to 20-City Composite posted a 3.9 percent increase compared to 3.5
percent in June. Each composite gained
0.6 percent before seasonal adjustment. The 10-City change was 0.5 percent and
the 20-City was 0.6 percent post adjustment. The report notes that data
for March through June out of Wayne County, Michigan (Detroit), previously unavailable
due to coronavirus related office closures is now online. However, there were
not enough records for the month of July to generate a current valid index for the
Detroit metro area.
Read Full Article