May Home Prices Up for 2nd Straight Month
May Home Prices Up for 2nd Straight Month
The Standard & Poor's /Case Shiller index of home prices was released Tuesday, showing prices held steady in May after April's data were revised to show a gain in prices. The index, which includes data on the nation's 20 largest metropolitan areas, showed that prices were little changed from April on a seasonally adjusted basis, and in line with what analysts had projected, but were still lower than prices from May 2010. Without the adjustment, prices actually increased for the second month in a row.
Analysts explained the increase as a temporary seasonal fluctuation brought by higher demand as Americans try to get moved in to new homes before the start of the next school year. While prices were up on a monthly basis, the index showed prices have fallen 4.5 percent on a year-to-year basis. Economists caution that the housing market has likely not yet reached a bottom as mortgages are still hard to qualify for and Americans are still very much uncertain about the nation's job market.
Colorado Springs Homes
Colorado Springs Condos
The Standard & Poor's /Case Shiller index of home prices was released Tuesday, showing prices held steady in May after April's data were revised to show a gain in prices. The index, which includes data on the nation's 20 largest metropolitan areas, showed that prices were little changed from April on a seasonally adjusted basis, and in line with what analysts had projected, but were still lower than prices from May 2010. Without the adjustment, prices actually increased for the second month in a row.
Analysts explained the increase as a temporary seasonal fluctuation brought by higher demand as Americans try to get moved in to new homes before the start of the next school year. While prices were up on a monthly basis, the index showed prices have fallen 4.5 percent on a year-to-year basis. Economists caution that the housing market has likely not yet reached a bottom as mortgages are still hard to qualify for and Americans are still very much uncertain about the nation's job market.
Colorado Springs Homes
Colorado Springs Condos
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