Hey, remember when this site was about real estate? Am I about to blog about real estate bubbles again? Who knows?
Case-Shiller: Home prices rising at least twice the rate of inflation
Home prices increased 6.4% in May, the same annual increase that was seen the month before, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine census divisions.
The 10-City Composite posed an annual increase of 6.1% in May, down from April’s increase of 6.4%, and the 20-City Composite increased by 6.5%, down from the increase of 6.7% the previous month.
“Home prices continue to rack up gains two to three times greater than the inflation rate,” said David Blitzer, S&P Dow Jones Indices managing director and chairman of the Index Committee. “The year-over-year increases in the S&P CoreLogic Case-Shiller National Index have topped 5% every month since August 2016.”
“Low-tiered homes in eleven of the 16 cities covered in the Index had year-over-year double-digit growth rates, indicating a demand and supply imbalance in affordable homes,” said Tian Liu, Genworth Mortgage Insurance chief economist.