undergroundnewsroom.com April 26, 2018

Home Prices Record 5.5 Percent YoY Rise

28 June 2017, 05:16 | Ruben Thornton

Aerial view of Coconut Grove in 2012

Aerial view of Coconut Grove in 2012

In New York, home prices rose only 3.8 percent year-over-year, the third weakest pace among 20 major cities measured by Case-Shiller.

Having ticked up an upwardly revised 1.1 percent in March, the S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area - which includes the East Bay, North Bay and Peninsula - gained another 1.5 percent in April and the index for area condos gained 1.8 percent as well, lifting each index to new all-time highs. Across all nine Census divisions, US home prices rose 5.5 percent over the year.

David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, isn't predicting a slowdown soon.

Metro Denver remains among the top four major US markets for year-over-year gains in home resale prices, according to the latest S&P/Case-Shiller Home Prices Indices report.

Local house-price gains slowed slightly during April, putting Cleveland at the rear of a 20-city pack of cities tracked in a closely watched monthly report updated Tuesday.

Berkshire bulks up in real estate with Store Capital stake
He said Buffett responded within three hours, and put him in touch with a deputy, Ted Weschler. STORE Capital Corp . ( NYSE: STOR ) is not exactly a household name.

Mike D'Antoni wins 2017 NBA Coach of the Year award
The 6-foot-4 guard came off Houston's bench to score 16.2 points while dishing out 2.5 assists and grabbing 2.7 rebounds per game. The other two finalists for the the award were a pair of 76ers teammates-forward Dario Saric and center Joel Embiid .

Israel strikes Syrian military near Golan Heights
The war monitor, the Syrian Observatory for Human Rights, said rebel groups in Quneitra had launched an assault and were storming army positions near Baath City.

The 20-City Composite posted a 5.7% year-over-year gain, down from 5.9% in March. "Adding to price pressures, mortgage rates remain close to four and affordability is not a significant issue". The inventory of homes for sale stood at 11,615 last month, which is 2.3 months of housing supply, according to the Minneapolis Area Association of Realtors.

"The question is not if home prices can climb without any limit; they can't", Blitzer said in a statement. First American's index factors in changes in incomes and mortgage rates.

Housing market observers have long speculated a looming increase in mortgage rates could slow demand, in turn putting the brakes on home prices. Blitzer said. "For the moment, conditions appear favorable for avoiding a crash".

By Zillow's count, there are 22 percent fewer homes on the market now than this time past year. Housing starts are increasing, foreclosure levels are low and household debt levels are manageable. Seattle reported a 12.9 percent year-over-year price increase, followed by Portland with a 9.3 percent increase.

From March single family home prices in the Chicago area rose by 1.0%, which I should remind you is largely a seasonal effect.

Other News

Trending Now

Black off-duty St. Louis cop mistakenly shot by white cop
The off-duty officer complied, at which point the officers recognized him, told him to stand up and walk towards them. They ran after the vehicle until it crashed, while the men tried to get out of it and ran away on foot.

Cosby trial accuser thanks supporters for love, kindness
If not for court-sanctioned secrecy, his accusers might have known about each other and been more willing to come forward. After two days of looking into the case, however, the jurors failed to come up with a unanimous verdict on the case.

AirAsia plane 'shaking like washing machine' returns to Australia
The plane was forced to turn around after experiencing violent shaking about 90 minutes into the flight. It landed at Perth Airport just before 10 a.m., AirAsia X Berhad said in a statement to Fortune .

US wanted ISIS terror leader may have fled Philippine city: army
Gen Ano said only four villages remain under the militants' control. Government forces are still trying to dislodge the terrorists.

Evacuations ordered for fire on California coast
Two people were taken to hospital after the crash and subsequent auto blaze that caused the wildfire on Monday afternoon. It closed after a weekend vehicle crash sparked a smoky fire that ripped through dry brush amid stifling heat.

President Trump Accuses Clinton of Colluding With Democrats to Defeat Sanders
After it was clear that Clinton would become the party's nominee there were emails wishing that Sanders would end his campaign. To get the loan, the college had to have a minimum of $2.27 million in grants and donations to pay the loan back.

Qatar Airways demands United Nations action against Saudi-led 'blockade'
Islamabad has longstanding, close ties to Saudi Arabia, but is also involved in recent business ventures in gas-rich Qatar. He added that he will meet with his counterparts from Saudi Arabia, Kuwait and the United Arab Emirates later this week.

Aus flies out of Syria amid US-Russia tensions
The Syrian military said that their plane was carrying out a combat mission against ISIS when it was shot down. The drone was downed just outside the 55 kilometer de-confliction zone, according to the officials.

Larson and McMurray make it 1-2 for Chip Ganassi at Sonoma
Truex, a two-time victor in the Monster Energy NASCAR Cup Series this season, had led 25 laps before parking in the garage. Larson is on a hot streak and, including his sprint auto races, has four total wins in the past two weeks.

Sailing: Umpires keep America's Cup on even keel with 'UmpApp'
However, they were penalised again during a tacking duel, deemed to have not given enough room to Team NZ when the boats crossed. It's no matter to Spithill that Oracle merely cut Team New Zealand's lead in the first-to-seven regatta to 4-1.