Post by jeffolie on Jun 25, 2013 7:22:35 GMT -6
home prices leap record 2.5% April 2013 largest monthly growth on record
Prices jumped 2.5% in April but just this week, rates jumped ... old data
Even house prices impact the wealth effect of investors, middle class who still have homes, FED policy ... the FED policy assumed continuing wealth effect for rich Type 1 consumers.
FED's tapering concerns were reinforced by home prices leaping 2.5% in April 2013
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June 25, 2013
WASHINGTON (MarketWatch) -- Prices for U.S. homes leaped in April, posting record monthly growth and the fastest year-over-year growth in seven years, according to S&P/Case-Shiller data released Tuesday. With gains in 19 of 20 cities, the 20-city composite index rose 2.5% in April, the largest monthly growth on record. The data go back to 2000. After seasonal adjustments, prices rose 1.7% in April. Compared with the same period in the prior year, prices in April rose 12.1%, the fastest annual pace since 2006. San Francisco posted the largest year-over-year price growth at 23.9%, while New York had the lowest at 3.2%. Economists had expected that U.S. home prices rose in April, supported by low inventory and demand spurred by low interest rates. Despite recent gains, the 20-city composite index indicated that prices remain about one-quarter below a 2006 peak. Elsewhere Tuesday, a separate reading on home prices from the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, showed a seasonally adjusted gain of 0.7% in April
www.marketwatch.com/story/home-prices-leap-in-april-2013-06-25?link=MW_home_latest_news
Prices jumped 2.5% in April but just this week, rates jumped ... old data
Even house prices impact the wealth effect of investors, middle class who still have homes, FED policy ... the FED policy assumed continuing wealth effect for rich Type 1 consumers.
FED's tapering concerns were reinforced by home prices leaping 2.5% in April 2013
================================================
June 25, 2013
WASHINGTON (MarketWatch) -- Prices for U.S. homes leaped in April, posting record monthly growth and the fastest year-over-year growth in seven years, according to S&P/Case-Shiller data released Tuesday. With gains in 19 of 20 cities, the 20-city composite index rose 2.5% in April, the largest monthly growth on record. The data go back to 2000. After seasonal adjustments, prices rose 1.7% in April. Compared with the same period in the prior year, prices in April rose 12.1%, the fastest annual pace since 2006. San Francisco posted the largest year-over-year price growth at 23.9%, while New York had the lowest at 3.2%. Economists had expected that U.S. home prices rose in April, supported by low inventory and demand spurred by low interest rates. Despite recent gains, the 20-city composite index indicated that prices remain about one-quarter below a 2006 peak. Elsewhere Tuesday, a separate reading on home prices from the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, showed a seasonally adjusted gain of 0.7% in April
www.marketwatch.com/story/home-prices-leap-in-april-2013-06-25?link=MW_home_latest_news