House prices have been on the rise for the past six months, with the latest data showing a 0.9 percent seasonally adjusted increase in July. This is the sixth straight month of rising prices.

Year-over-year, house prices have risen 0.1 percent, after dropping 1.2 percent in July of last year. The 20-city housing price index, which is the gold standard for home price barometers, has risen 0.9 percent compared to a year ago, while the broader national index has risen 0.6 percent. Compared to a month ago, prices have increased by one percent, after being flat for the previous month.

The 10-city index, as well as the national index, also reached new highs in July. After peaking in June 2022 and declining through January 2023, home prices decreased by a whopping 5.0% over the seven-month period. However, the upturn that started in January has now reversed the earlier decline, meaning that July marks a new high for the national composite.

The recovery in home prices has been broad-based. As in July 2022, all 20 cities in the sample reached all-time highs. However, in July, all 20 cities experienced price increases after seasonal adjustments (and 19 of them before).

All three indexes rose a robust 0.6 percent in July, with the Midwest region recording the largest home-price increase.

Read Full Article Here!

Leave a Reply

Your email address will not be published. Required fields are marked *

End Times Prophecy Watch is an online ministry focused on sharing the Gospel and end times related news pertaining to end times bible prophecy. Our mission is to keep people informed on the times and season we are living in. We are focused on remaining obedient to our calling!

%d bloggers like this: