13 Dec, 2019, 16:33 ET
VANCOUVER, Dec. 13, 2019 /CNW/ -
US house prices rose in 3Q 2019, up +1.1 per cent according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI), released November 26. House prices in the US rose +4.9 per cent from 3Q 2018 to 3Q 2019. FHFA's seasonally adjusted monthly index for September was up +0.6 per cent from August.
"According to the latest home price forecast from property data firm CoreLogic, US home prices should tick up by +5.6 per cent by next September—up from the +3.5% jump of this year."
The Case Shiller Home Price Index in the US reached an all-time high of 218.27 Index Points in September of 2019.
US house price appreciation inched up slightly in September with year-ago growth in the 20-city composite index rising to 2.1%, up from 2% in August, said the latest Case Shiller indices from Moody's Analytics. In addition, year-ago growth in the 10-city composite index held steady at 1.5%. Further, growth in the national house price index increased to 3.2% from 3.1% in the previous month.
"Inventories are tight: You can't buy what's not for sale, say seasoned realtors."
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SOURCE Madison's Lumber Reporter
For further information: Keta Kosman, Publisher, Madison's Lumber Reporter, est. 1952, Vancouver, BC, Canada, www.madisonsreport.com, 604 319-2266
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