Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Home Prices Up, Existing-Home Sales Dip
WASHINGTON (4/24/13)--U.S. home prices increased in the first quarter this year, while existing home sales dipped in March.

U.S. house prices rose 0.7% on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency's monthly House Price Index. For the 12 months ending in February, prices increased 7.1%.

The U.S. index is 13.6% below its April 2007 peak and is roughly the same as the October 2004 index level. U.S. house prices have not declined monthly since January 2012.

For the nine census divisions, seasonally adjusted monthly price changes from January to February ranged from -0.6% in the Middle Atlantic division to 1.7% in the South Atlantic division. The 12-month changes ranged from 1.9% in the Middle Atlantic division to 15.3% in the Pacific division.

Also, March existing-home sales eased from inventory constraints, which continued to pressure home prices, according to the National Association of Realtors (NAR).

Total existing-home sales--completed transactions that include single-family homes, townhomes, condominiums and co-ops--declined 0.6% to a seasonally adjusted annual rate of 4.92 million, from a downwardly revised 4.95 million in February. However, the sales remain 10.3% higher than the 4.46 million-unit pace in March 2012.  

Sales have been above year-ago levels for 21 consecutive months, while prices show 13 consecutive months of year-over-year price increases, NAR said.

For more information, use the links.
RSS print
News Now LiveWire
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
8 hours ago
.@CUNAMutualGroup has committed $35K to @trustdotcoop over the next year to suppor the future of #creditunions.
9 hours ago
.@madison_mag gets the cooperative scoop from @SummitDoMore's @kimsponem http://t.co/RxSCeSegie
10 hours ago
.@VantageWestCU emeritus chairman Whittaker inducted into @DCUC_HQ Hall of Fame http://t.co/dpeP4ME49U
11 hours ago
Australian newspaper covers Gen Y tips from @ServusCU at @WOCCU conference http://t.co/xqmLfZVwaI
12 hours ago