|
The S&P/Case-Shiller index covers roughly half of U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The August figures are the latest available. The figures aren't seasonally adjusted, so some of the gains in August reflect the benefit of the summer buying season. Stan Humphries, chief economist at the housing website Zillow, expects the monthly price figures will decline in the fall and winter. "This doesn't mean the housing recovery has been derailed," he said. "This is exactly what bouncing along bottom looks like." Other recent reports show that the housing market is improving, albeit from depressed levels. Home builders started construction on new homes and apartments at the fastest pace in more than four years last month. They also requested the most building permits in four years, a sign that many are confident that home sales gains will continue. Home building is still far below the pace that economists say is consistent with a healthy housing market. New home sales jumped last month to the highest annual pace in the past 2
1/2 years. Sales of previously occupied homes dipped in September but have risen steadily in the past year.
[Associated
Press;
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor