Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Home Prices Rose 0.9% In June
WASHINGTON (8/28/13)--U.S. home prices rose in June, although at a slower pace than in May, an indication that the rate of improvement in the housing market could be slowing (MarketWatch, The New York Times and Bloomberg.com Aug. 27).
 
The S&P/Case Shiller composite index of home prices in 20 metropolitan areas increased 0.9% on a seasonally adjusted basis. Prices gained 2.2% on a non-adjusted basis. 
 
On an annual basis, home prices in all 20 cities rose, topped by a 24.9% spike in Las Vegas, followed by a 24.5% increase in San Francisco.
 
However, only six cities saw prices increase in June at a faster pace than in May--when 10 cities saw prices rise, the Times said.
 
Escalating property values are bolstering household wealth, which helps fortify the consumer spending that comprises 70% of the U.S. economy, Bloomberg said.
 
However, a leap in mortgage rates suggests home sales and refinancing could be restrained--and that would make it harder for consumers to tap into home equity, Bloomberg added.
RSS print
News Now LiveWire
Texans linebacker Cushing continues outreach, spokesman role for @FirstCommCU http://t.co/wIUGhn9okM
2 hours ago
Despite what consumers say, big banks still hold sway over market via @Marketplace http://t.co/ozH69d8soj
4 hours ago
Erie, Pa., Americo FCU CEO praises staff for actions during robbery http://t.co/yyhaPnDtXh
5 hours ago
"Shreditorial" praises good deeds of @DannemoraFedCU http://t.co/06qKe0mhzR
5 hours ago
.@icul survey touts value of #college education http://t.co/41yopLeWLe
5 hours ago