US home prices continue to rise amid pandemic: study - Business Insider

S&P CoreLogic Case-Shiller national home price indexThe index, which tracks home price fluctuation in the 20 largest US cities, found that August home prices were 4.1% higher than in July, and 5.2% higher than the previous August.

Phoenix, Seattle, and San Diego reported the highest year-over-year gains, but all 20 cities included in the index reported higher home prices in August than in July.found August's national median home price of $310,600 not only stayed above the $300,000 threshold, but marked the 102nd straight month of year-over-year gains.

Median home prices of single-family homes and condos are currently less affordable for the typical American than historical averages in roughly two-thirds of the country, according to"These increases are unsustainable, but prices will keep rising in the double digits for for another six months to a year," Ed Pinto, the director of the American Enterprise Institute Housing Center, recently told.

Other industry analysts say home-price increases could slow as the coronavirus pandemic dampens employment, spending, and disposable income. "We expect some moderation in home price growth in the fourth quarter as the pace of home sales cools in the face of a resurging pandemic and a faltering recovery," Nancy Vanden Houten, an economist at Oxford Economics, told

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