The Home Buyer's Korner

Information presented should be used for educational purposes only.

October 29th, 2015

Guy looking up in color

Case-Shiller Aug 2015 Reading

Case Shiller

Home prices in August continued to rise, according to the data offered by S&P/Case-Shiller this week.

On a national basis, single-family home prices gained an annual 4.7 percent according to their report, which covers all nine U.S. Census divisions, and beats the annual 4.6 percent increase reported for July. 

The cities with the highest year-over-year gains were San Francisco at 10.7 percent, Denver at 10.7 percent and Portland at 9.4 percent.

Overall, home prices have risen at a faster pace than inflation, which has been around 1.3 to 1.8 percent and wage growth that has been stalled at around 2 percent. A 5 percent rise in the value of a house values means a lot more today than it did 10 years ago, when the inflation and wage growth was higher. Prices have also rebounded from their lows after the 97 to 05 real estate boom and at a faster pace.

Homelueser time

Home price increases are created less due to inflation and more based on supply these days. We currently stand at about at a 4.8 month supply of available homes for sale nationwide, and some areas like Denver only a 1 month supply at best. To achieve a healthy balance in home prices an typical market needs a 6 month supply.

Annual U.S. home value appreciation has stabilized in many parts of the country, but we continue to see double digit appreciation in some cities, while other cities remain flat.

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