May 2017   Volume 43, Number 5      


U.S. Home Prices Hit a 2.5-Year High

U.S. home prices moved higher in December 2016, just months after hitting a high last seen at the height of the housing bubble in 2007. The S&P/Case-Shiller 20-city index rose 5.6 percent in the three-month period ending in December 2016 compared to the same period a year ago. It also saw an increase over the 5.2 percent annual gain reported in November 2016.

The S&P CoreLogic Case-Shiller Home Price Indices are the leading measures of U.S. residential real estate prices. The broader national index rose 5.8 percent for the year in December 2016, the biggest gain in 30 months. Economists had forecast an increase of 5.4 percent in the 20-city index, which attracts more attention than the national measure.

In December 2016, the hottest markets were again in the West. Seattle prices increased 10.8 percent compared to one year ago, Portland prices were up 10 percent, and Denver saw increases of 8.9 percent. There were twelve cities that had larger annual price gains in December than in November.

The national index is 0.5 percent higher than its July 2006 peak, while the 20-city index remains 6.7 percent lower.

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In this issue:

12 Surprising Facts about Millennial Homebuyers

Cities Where Over 50 Percent of Millennials Own Homes

Citigroup to Exit Mortgage Servicing Business by 2018

House Flipping Frenzy Returns to U.S. Real Estate

Mortgage Volume Increases by 3.3 Percent as Borrowers Rush to Beat Rising Rates

Survey Shows Smart Home Devices Still in Early Adopter Phase

U.S. Home Prices Hit a 2.5-Year High

Wall Street Eyes Shopping Malls as Next U.S. Credit Crisis

Northeast Has Most New Home Starts

Landscaping Tips to Improve Curb Appeal


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