Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

Home prices set record for 5th straight month

Posted by Mastura Zaini-Roberts on Wednesday, June 28th, 2017 at 10:04am.

Home price data for April shows another record high, the fifth consecutive month of new peaks.


The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index which covers all 9 US census areas hit its highest reading (188.50), rising 5.5% from a year earlier, but easing from the 5.6% gain for March.

The 10-City Composite annual increase was 4.9% (to 197.19), down from 5.2% the previous month; and the 20-City Composite posted a 5.7% year-over-year gain (to 210.64), down from 5.9% in March.

Month-over-month (before seasonal adjustments), the National Index was up 0.9% in April; the 10-City was up 0.8% and the 20-City gained 0.9%. After seasonal adjustments, the National and 10-City readings were 0.2% and the 20-City was up 0.3%.


Home prices set record for 5th straight month

“As home prices continue rising faster than inflation, two questions are being asked: why? And, could this be a bubble?” says David M. Blitzer Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.

He said that strong demand which outstrips supply, and the availability of mortgages, means that price gains are not restricted…at least for now.

But he noted that they cannot continue higher forever and the questions is what form the change will take; a gentle easing or a painful crash.
“For the moment, conditions appear favorable for avoiding a crash. Housing starts are trending higher and rising prices may encourage some homeowners to sell,” Blitzer said.

“Mortgage default rates are low and household debt levels are manageable. Any increase in mortgage interest rates would dampen demand. Household finances should be able to weather a fairly large price drop,” he added. 

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



Related Blog Posts

Strip Condo Only $125k!

Didn’t think you could afford Las Vegas real estate? Now you can own a condo right on Las Vegas Boulevard for only $125k! Sneak preview - own your piece of the fabulous Las Vegas Strip for a fraction of the usual cost. Located right between the between the beautiful Bellagio and the vibrant MGM City Center in the hea...

Down payment misconceptions continue to hinder millennials from owning a home

The misconception about down payments continue to hinder millennials from the possibility of owning a home.An outlook study conducted by United Shore Financial Services along with Michigan State University found out that a whopping 96% of its respondents became more interested in purchasing a home after finding out tha...

7 reasons to list your home this holiday season

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays. Here are seven great reasons not to wait: 1. Relocation buyers are out there....

Taxes are a GREAT Reason to Move to Nevada

According to this year’s Tax Index, Nevada is one of the states that do without one or more of the major taxes: the corporate income tax, the individual income tax, or the sales tax. Wyoming, Nevada, and South Dakota have no corporate or individual income tax making them desirable places to own property. The 1...

The cost of rising home prices: Rental rates are at a 50-year high

Rising home prices are pushing more people to rent that at any time in more than 50 years, according to a new report. A new analysis of Census Bureau data by the Pew Research Center found that more US households are headed by renters than at any time since at least 1965, according to a MarketWatch report.“The to...

Leave a Comment

Have a Question?

Contact Us

Follow Us