US home prices up in December, but short of expectations
[NEW YORK] Annualized US single-family home prices rose less than expected in November, a closely watched survey showed on Tuesday.
The S&P/Case Shiller composite index of 20 metropolitan areas rose 5.7 per cent in December on a year-over-year basis, matching the increase the month before. That was just below the 5.8 per cent estimate from a Reuters poll of economists. "While home prices continue to rise, the pace is slowing a bit," said David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices.
Prices rose 0.8 per cent in December from November on a seasonally adjusted basis, the survey showed, just short of expectations for a rise of 0.9 per cent.
On a non-seasonally adjusted basis, prices were unchanged from November.
Home prices in three US cities, San Francisco, Denver and Portland, Oregon, continue to report the highest year-over-year gains, the survey showed.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Half of German housing construction firms short on orders
China’s housing mess finally hits Xi’s interest
A way to beat high mortgage rates is to take over someone else’s loan
With China’s property market struggling, India, South Korea and Vietnam are hot
Shophouse sales surge and at higher prices in Q1 as high-net-worth investors return: Knight Frank
Sony’s plans for Paramount include sale of famous studio lot