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

ECONOMIC REPORT

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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 existing home sales spike to fastest rate since 2006 as housing-market boom accelerates further


  • Sales of previously owned homes leaped 9.4% in September to a seasonally adjusted annual rate of 6.54 million, the National Association of Realtors announced Thursday.
  • The reading marks the fourth-straight month of accelerating sales, and the latest rate is the fastest since 2006.
  • Economists surveyed by Bloomberg expected the sales rate to climb to 6.3 million from August’s revised 5.98 million.
  • The US housing market has served as a bright spot in the slowing economic recovery as record-low mortgage rates drive more Americans to buy units.

Existing-home sales in the US beat expectations in September as historically low mortgage rates further fueled the housing market’s rally.

Sales surged 9.4% to a seasonally adjusted annual rate of 6.54 million last month, the National Association of Realtors announced Thursday. That pace is the fastest since 2006 and comes after four consecutive months of acceleration in

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With NYC Influx, Greenwich Area Home Prices Rise Fastest in U.S.

(Bloomberg) — With New Yorkers rushing to the suburbs, Fairfield County, Connecticut — the home of tony Greenwich — suddenly has the fastest-rising real estate prices in the U.S.

The median home price climbed 33% in September from a year earlier to $499,000, while sales jumped 80%, according to data from brokerage Redfin. By both measures, the county was the hottest U.S. housing market, based on an analysis of the largest metropolitan areas in the U.S.



Housing Rush


© Bloomberg
Housing Rush

The pandemic is fueling a rush to the suburbs as New Yorkers leave tight quarters in the city and hunt for more space to quarantine as coronavirus cases climb. The city’s employers now mostly operate with remote workforces, allowing people to telecommute from anywhere.

Read more: Greenwich Home Purchases Soar to a Decade High on NYC Exodus

Fairfield County is home to expensive towns like Greenwich and nearby New Canaan,

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Here’s where Oregon home values are rising the fastest

To ascertain its ratings, SmartAsset used three factors: Property tax rates, school ratings and average home value growth.

PORTLAND, Ore — With no sales tax, Oregon relies heavily on property taxes to fill its general fund coffers. Yet that rate, according to a national researcher, still sits below the national average.

So reports a new study from SmartAsset, a financial technology company that also provides research on an array of topics. The company revealed the good news for Oregon in an accompanying rankings of state counties by home values.

Overall, Oregon’s effective property tax rate in Oregon is 1.04 percent, below the U.S. average currently of 1.08 percent.

VIEW SLIDESHOW: The 10 Oregon counties where home values are rising the fastest

To ascertain its ratings of which counties where home values have risen the most, SmartAsset used three factors: Property tax rates, school ratings and average home value growth. It

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