S&P CoreLogic Case-Shiller Home Price In

S&P CoreLogic Case-Shiller Home Price Index up 5.7% over Last Year… Reflecting higher prices in both the existing and new home markets, the home price index continues its upward march.
What it means – The gains weren’t evenly dispersed. I expected weakness this year, and it’s happening. Six of the 20 cities in the index showed declines for the second straight month, with Boston, Chicago, and New York looking particularly ugly. Those declines were masked by markets like Seattle, where foreign buyers are chasing deals and driving up prices well beyond what local incomes can support.
But this doesn’t mean that real estate is rolling over. Inventory remains tight. Builders and existing homeowners appear very attuned to the market, and are willing to yank inventory when things get soft. This is unlike years ago, when weak sales would draw sellers anxious not to miss the market. http://ow.ly/i/xdabx

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