Stocks fall again as COVID-19 cases climb; US home prices rose sharply in August |

Stocks wobbly as virus cases increase

NEW YORK — Wall Street’s losses mounted for the second straight day Tuesday as momentum slows on worries about rising virus counts and Washington’s inability to deliver more aid to the economy.

The S&P 500 fell 0.3 percent after spending much of the day swinging between small gains and losses. Most of the stocks in the index fell, particularly banks, oil producers and other companies whose profits tend to track the strength of the economy. Those losses outweighed gains in technology stocks and companies that rely on consumer spending. Traders also welcomed news that AMD has agreed to buy fellow chipmaker Xilinx for $35 billion.

The market’s latest pullback, which follows the S&P 500’s worst day in a month, cuts further into what had been a solid rebound this month after heavy selling in September snapped a five-month winning streak. Just two weeks ago,

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San Diego home prices increasing 3rd-fastest in nation

San Diego home prices went up the third-fastest in the nation in August and appreciated at a pace not seen in more than two years.

Prices in the San Diego metropolitan area were up 7.6 annually, the S&P CoreLogic Case-Shiller Indices reported Tuesday. It was the fastest increase since April 2018 and the first time the region cracked the top three in seven months.

The only places that recorded faster increases were Phoenix, up 9.9 percent, and Seattle, up 8.5 percent. However, all markets in the 19-city index had notable increases despite the pandemic, with average nationwide prices up 5.7 percent annually.

Economists point to a lack of available homes for sale as the main driver of prices. Many potential sellers have elected to keep properties off the market as they wait out the pandemic, making the competition for a limited pool of homes very intense. Secondary factors are record

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Home prices in August see biggest gains in more than two years, S&P Case Shiller says

  • Strong demand and a limited supply of homes have caused home price gains to accelerate dramatically.
  • The 10-City Composite posted a 4.7% gain in August, up from 3.5% in the previous month. The 20-City Composite rose 5.2% year over year, up from 4.1% in July.
  • All 19 cities for which data was reported rose monthly and annually, with all 19 seeing larger annual gains than in July.

Hamptons real estate market sales smash records as wealthy flee New York City



Strong demand and a limited supply of homes have caused home price gains to accelerate dramatically.


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Prices beat expectations, rising 5.7% annually in August, up from 4.8% in July, according to the S&P CoreLogic Case-Shiller National Home Price Index.

The 10-City Composite posted a 4.7% gain, up from 3.5% in the previous month. The 20-City Composite rose 5.2% year-over-year, up from 4.1% in

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U.K. Home Values Expected to Rise Nearly 15% in Four Years

Homeowners across the U.K. are set to see their home values increase by a predicted 14.5% over the next four years, according to a report Tuesday from

In the U.K., where the average house price now stands at £233,512 (US$305,007), the uptick will equate to £33,877 added to the worth of a typical home, leaving values at £267,512, the estate agent comparison site said.

Percentage gains are forecast to be most pronounced in the North West and Yorkshire and the Humber, where values are set to jump 14.9% and 14%, respectively.

In the North West, home to cities including Manchester and Liverpool, and where the average home is currently worth £166,665, the uptick will see close to £25,000 added to the value of a property in the region.

Homeowners in Yorkshire and the Humber, meanwhile, will see their property increase in value by more than £23,000, from £165,808 today

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Home prices shot up over the summer; Seattle still No. 2 in nation for growth

Home prices around the country continued to shoot up as summer drew to a close — and the Seattle area was no exception.

Prices around Seattle rose year-over-year by 8.5% in August, the second-highest rate of growth in the country after Phoenix, which clocked a 9.9% increase, according to the S&P CoreLogic Case-Shiller Home Price Index released Tuesday morning.

August was the seventh consecutive month that Seattle was second to Phoenix in average home price growth, and the 10th straight month that Seattle price growth topped national averages. Nationally, home prices rose an average 5.7% in August, compared to 4.8% the previous month.

By one measure, home prices nationwide are rising faster than they ever have — “an incredible feat considering the market is rising from an already elevated level,” said Zillow chief economist Matthew Speakman in a statement. Annual growth of single-family home prices has risen by more in

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U.S. home prices rise at fastest pace in two years



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The numbers: The S&P CoreLogic Case-Shiller 20-city price index posted a 5.2% year-over-year gain in August, up from revised 4.1% in the previous month, according to a report released by S&P Dow Jones Indices on Tuesday. The gain was in line with expectations of Wall Street economists surveyed by Econoday. On a monthly basis, the index increased 0.5 in August.

What happened: The separate national index released with the report noted a 5.7% increase in home prices across the U.S. over the past year. This is the fastest pace in more than two years.

The strength was consistent nationally. All of the 19 large cities tracked by Case-Shiller posted increases in housing prices in August.

A separate measure, the Federal Housing Finance Agency house price index, rose 1.5% in August and is up 8% year-on-year. That’s the fastest annual gain since March 2006.

Phoenix once again

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US home prices up 5.2% in August

WASHINGTON (AP) — U.S. home prices posted a robust gain in August — another sign that the American housing market remains strong despite economic fallout from the coronavirus pandemic.

The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, showed that home prices climbed 5.2% in August from a year earlier, accelerating from a 4.1% gain in July. The gain was stronger than economists had expected.

Phoenix (up 9.9% from August 2019), Seattle (up 8.5%) and San Diego (7.6%) posted the biggest gains. All 19 cities in the index recorded price increases. The 20-city index excluded prices from the Detroit metropolitan area index because of delays related to pandemic at the recording office in Wayne County, which includes Detroit.

Helped by rock-bottom mortgage rates, the U.S. housing market has been a source of strength as the U.S. economy climbs back from an April-June freefall caused by the pandemic and the

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What is the value of TIF in Mitchell County? | News

What they say about TIF

Tax Increment Financing has been a topic of debate in Mitchell County for some time. Here is a sampling of what has been said at meeting or in letters or columns run in the Press News.

District 1 Supervisor candidate Dave Stauffer:

“All of our contractors have the option of applying for these Urban Renewal incentives for new or older homes. Larger incentives may be needed to attract some of our fine contractors back into remodeling or upgrading already-existing structures. The same is true for the Economic Development Board when focusing on increasing the tax base. Few projects have been for anything but new homes with prices that are too expensive for many of our people.”

District 2 Supervisor candidate Al Winters:

“Visiting with residents while campaigning provided a greater perspective to the challenges that face many individuals and families. The notion that the current

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How Real Estate Investors Could Profit Despite Today’s Economic Uncertainty

Rob Johnson is CRO of Realized, an investment property wealth management platform helping investors create custom investment property plans.

Uncertainty seems to be the “new normal,” when it comes to the ways in which people are living, working and investing. But despite rattled markets and short-term economic uncertainty, real estate investments can help manage your portfolio risk through diversification, while aiming to produce returns that can be enhanced with tax benefits.

First of all, while the pandemic is global, real estate is local. Unlike other investment-grade assets, real estate value is based on the unique characteristics of the local community and marketplace.

Second, real estate investment trusts (REITs) are trading at lower valuations, making them a potentially lucrative buy during the current downturn. Furthermore, vacation rental properties are selling at steep discounts, as business and leisure travel have declined.

With these and other factors, it’s understandable that today’s

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Airbnb approves 2-for-1 private stock split as share value rips higher, report says

  • Airbnb’s board has approved a 2-for-1 private stock split as the value of its shares has ripped higher, Bloomberg reported.
  • The stock split, which comes into effect on Tuesday, would make it easier for retail investors to participate in the company’s initial public offering because of the lower cost of each share.
  • The value of the home-rental app’s privately-held shares have climbed 10.4% since the end of the second-quarter.
  • Airbnb plans to raise roughly $3 billion through its IPO in December, giving it a valuation of more than $30 billion.
  • Visit Business Insider’s homepage for more stories.

Airbnb has approved a 2-for-1 stock split for privately held shares ahead of its initial public offering slated for December, Bloomberg reported on Sunday.

The home-rental app told some of its shareholders in an e-mail that beginning Tuesday, they will receive two shares for every one

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