Housing Prices at 20-month High
U.S. home prices rose for the sixth consecutive month in August, to a 20-month high according to real estate information provider FNC Inc. In the country’s 100 largest metropolitan areas, home prices rose at a non-adjusted rate of 0.3% month-over-month.…
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In its press release FNC noted:
The majority of the markets tracked by the FNC 30-MSA composite index show continued price improvement in August, although generally at a subdued pace. … Month-to-month, home prices rose 3.1% in Los Angeles, 2.2%-Phoenix, 2.1%-Sacramento, 1.7%-Detroit, 1.6%-Columbus. Based on a three-month moving average (June, July, and August), Detroit, Phoenix, San Francisco, and Los Angeles show the best price momentum, averaging 2.8%, 2.7%, 1.7%, and 1.5% per month, respectively.
The firm also noted that between January and August home prices rose 15.2% in Phoenix, an average of 2.2% a month and the strongest growth among the metropolitan areas included in the research.
The press release with tables is available here.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
