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

Catch up on the developing stories making headlines.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 , Seattle and San Diego 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.

“The supply of for-sale homes, already extremely tight, has only become more constrained in recent months, and historically low mortgage rates continue to encourage many buyers to enter the market," Matthew Speakman, economist at the real estate firm Zillow, said in a research note. “This heightened competition for the few homes on the market has placed consistent, firm pressure on home prices for months now, and there are few signs that this will relent any time soon.

The National Association of Realtors reported last week that sales of existing shot up 9.4% in September and that the median selling price of a home climbed 15% from a year earlier to $311,800. And the Commerce Department reported that home building rose 1.9% in September on a surge in construction of single-family homes.

Danger in borrowing equity in home !

PLEASE HELP. $RMKghost I have been trying to raise money for rent, we got behind, so far we have 100/3647 raised. I'm a single father of two with no family to help... I'm trying everything I can to keep my kids safe with food and a place to sleep. Please anything helps.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dunkin’ Brands, Hasbro, Apple: What to Watch When the Stock Market Opens TodayS&P 500 futures are falling as coronavirus cases surge in the U.S. and Europe, while stimulus hopes fade. I know melburnians are excited but this is a bit bullish migga Please help! Please retweet/share! 8-months-old baby Joshua is battling acute lymphocytic leukemia, a type of blood cancer. His life is dependent on chemotherapy & a stem cell transplant. Help Joshua's family in offsetting the cost of his treatment here: bottom middle
Source: WSJ - 🏆 98. / 63 Read more »

Japan stocks set tor mixed open as coronavirus cases in the West surge; oil prices dropInternational benchmark Brent crude futures fell 1.68% to $41.07 per barrel, as of 7:27 a.m. HK/SIN. U.S. crude futures also declined 1.73% to $39.16 per barrel.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks end sharply lower as investors battered by COVID-19 case surgeU.S. stock-market benchmarks ended sharply lower on Monday, but off their intraday lows amid investors jitters around rising COVID-19 cases in the U.S. and Europe. Horrific day on Wall Street. Too bad a record bad jobs report didn’t come out today PlunkettPrime Who cares. EZ Stimulus hopes rally overnight
Source: MarketWatch - 🏆 3. / 97 Read more »

Nobel Prize-winning economist Robert Shiller says low investor confidence and high prices are raising the risk of a market crash, and cautions investors not to be overweight stocks | Markets InsiderNONUKES NUCLEARBAN BreakingLimits Fukushima news; UTAH UNDER NUCLEAR ENERGY CRIME SYNDICATE ATTACK, SMR UAMPS SCAM, HOT NUKE WASTE via kevindblanch
Source: BusinessInsider - 🏆 729. / 51 Read more »