Seven Straight Months Of Price Increases:
The S&P/Case Shiller
composite index of 20 metropolitan areas gained 0.5 percent on a seasonally
adjusted basis, in line with economists' forecasts. On a non-seasonally
adjusted basis, prices fared better, gaining 0.9 percent. Prices in the
20 cities climbed 2 percent year-over-year, topping expectations for a 1.9
percent increase.
It was the seventh straight
month of increases, extending the longest continuous string of gains since
prices were boosted by the homebuyer tax credit in 2009 and 2010.
The sustained good news in home
prices "makes us optimistic for continued recovery in the housing
market," David Blitzer, chairman of the index committee at S&P Dow
Jones Indices, said in a statement.
"Even as we end
the seasonally strong home buying period, the statistics are positive,"
said Blitzer.
No comments:
Post a Comment