The increase in housing prices in the United States for the sixth consecutive month – Tejaratnews

According to Tejarat News, according to Yahoo Finance, housing prices in the United States increased for the sixth consecutive month and reached their highest figure in July, as the shortage of housing has increased the competition to buy.

According to the report, S&P’s Corelogic Kisshiller National Home Price Index, which measures average home prices in major U.S. metropolitan areas, rose 0.6 percent in July from June and 1 percent over the past 12 months, on a seasonally adjusted basis.

The national index hit an all-time high in July, surpassing the record set in June 2022.

Housing prices continue to rise in the United States

U.S. home prices continued to rise in July 2023, S&P DJI CEO Craig J. Lazzara said in a statement.

He added: The increase in prices that started in January has now erased the effect of the initial decline (in the second half of 2022), so that July is a new record for the National Composite Index.

The index, which measures home prices in the 20 largest U.S. cities, rose a seasonally adjusted 0.9 percent in July, beating the 0.7 percent a Bloomberg survey of economists expected.

As was the case last month, (housing prices in) 10 of the 20 cities in our statistical sample reached high levels, Lazzara said. In July, prices rose in all 20 cities after seasonal adjustment (and in 19 cities before adjustment).

According to the National Association of Realtors (NAR), the median U.S. home price for existing homes rose 1.9 percent in July to $406,700.

The strong housing market suggests that although some buyers have been put off by high borrowing costs, demand continues to outstrip supply.

Source: Tasnim