U.S. Home Prices Increased Again in August, Despite Pandemic

U.S. home prices continued to increase at a modest rate in August, rising 1.0% on a seasonally adjusted basis compared with July, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

The index’s 10-city and 20-city composites, measuring home price growth in the largest U.S. cities, posted month-over-month increases of 0.5% each.

Year over year, home prices were up 5.7%.

“Housing prices were strong in August,” says Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, in a statement. “The national composite index gained 5.7 percent relative to its level a year ago, well ahead of July’s 4.8 percent increase.

“The 10- and 20-city composites – up 4.7 percent and 5.2 percent, respectively – also rose at an accelerating pace in August,” Lazzara says. “The strength of the housing market was consistent nationally – all 19 cities for which

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Home prices jumped 5.7% in August as real estate extends hot streak

Home prices nationally rose 5.7% annually in August, up from the 4.8% annual increase in July, according to an update of the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index Tuesday, as the real estate market remains hot.

Phoenix, Seattle, and San Diego reported the highest year-over-year gains, with Phoenix showing a nearly 10% increase, marking the 15th consecutive month in which Phoenix home prices rose more than those of any other city.

The report covers 19 cities throughout the country. All of the cities reported year-over-year price increases in August.

“Housing prices were strong in August,” said Craig Lazzara, global head of index investment strategy at S&P Dow Jones Indices.

The last time that prices increased 5.7% year-over-year was in July of 2018. Prices were strongest in the West and Southeast regions. Seattle saw a year-over-year gain of 8.5%. Prices in San Diego jumped 7.6%.

“It’s a measure

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S&P CoreLogic Case-Shiller: US home prices up 5.2% in August

WASHINGTON — 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 measures

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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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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

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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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S&P CoreLogic Case-Shiller: US home prices up 5.2% in August | National News

WASHINGTON (AP) — U.S. home prices posted a robust gain in

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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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Vail Valley real estate sets dollar volume record in August

A duplex on Vail Road near the Vail Interfaith Chapel sold in August for $57.2 million. The value of all August sales set a new record of $418 million
Scott Cramer Photography

What a difference a quarter makes.

After a near-shutdown of the valley’s real estate market in April, May and June, numbers since that time have come roaring back, with August setting a new record for the value of real estate sales in Eagle County.

The August sales total was a staggering $418 million. That total dwarfs monthly sales figures dating back to 2014. Only April of 2017 cracked the $300 million mark.

The August sales total shattered the previous monthly record of $361 million, set in 2005.

How big was August? If you throw out the $57.25 million single-buyer cash sale of a duplex near the Vail Interfaith Chapel, August’s sales still roughly tie the old record.

Most

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August pending home sales soar to a record high

A sale pending sign is posted in front of a home for sale in San Anselmo, California.

Justin Sullivan | Getty Images

Pending home sales rose 8.8% in August compared with July, reaching a record high pace, according to the National Association of Realtors survey, which dates to January 2001.

Sales were 24.2% higher than August 2019.

These sales track signed contracts on existing homes, not closings, so they are an indicator of closed sales in the next one to two months.

“Tremendously low mortgage rates – below 3% – have again helped pending home sales climb in August,” said Lawrence Yun, NAR’s chief economist. “Additionally, the Fed intends to hold short-term fed funds rates near 0% for the foreseeable future, which should, in the absence of inflationary pressure, keep mortgage rates low, and that will undoubtedly aid homebuyers continuing to enter the marketplace.”

Yun also noted that not all

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Condo Prices Climb 5.4% in August, Lagging 11.9% Growth for Single-Family Homes

Remote work, the desire for privacy and record-low mortgage rates make single-family homes more desirable during the coronavirus pandemic. But condos could make a comeback if single-family home prices continue to surge.

SEATTLE, Oct. 2, 2020 /PRNewswire/ — (NASDAQ: RDFN) — Condo sale prices in the U.S. increased 5.4% year over year to a median of $266,000 in August, trailing growth in single-family home prices, which surged 11.9% to $343,000, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s the largest price-growth gap between the two property types since 2014.


Redfin Logo (PRNewsfoto/Redfin)

About one in five condos (21.9%) sold for above the price at which it was listed, up slightly from 19.2% in August 2019. That compares with one of every three single-family homes (33.6%), up from 24.3% a year earlier and the highest share on record.

“Home prices have been growing across all

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