National home prices may begin to rise again

Real Estate

Home price gains have been shrinking since March 2018, but now signs point to reheating in the housing market.

The much-watched S&P CoreLogic Case-Shiller U.S. National Home Price Index rose 3.2% annually in July, the same gain reported in June. Prices are still cooling in the largest cities, however. The 10-City Composite rose 1.6% annually, down from 1.9% in the previous month. The 20-City Composite posted a 2.0% annual gain, down from 2.2% in June.

The hottest cities for home price appreciation were Phoenix, Las Vegas and Charlotte, North Carolina. Home prices in Phoenix rose 5.8% year over year. In Las Vegas, they were up 4.7%, and Charlotte saw a 4.6% increase. Seven of the 20 cities reported greater price increases in the year ending July 2019 versus the year ending June 2019.

Find more information at: https://www.cnbc.com/2019/09/24/home-price-gains-stop-slowdown-in-july-sp-case-shiller-index.html