U.S. Home Prices Rise Modestly

U.S. Home Prices Rise Modestly

الثلاثاء 1437/12/25 هـ الموافق 2016/09/27 م واس

Washington, Dhu-AlHijjah 26, 1437, Sep 27, 2016, SPA — U.S. home prices rose modestly in July, a closely watched private-sector index showed Tuesday.
The Standard & Poor’s CoreLogic Case-Shiller 20-city home price index rose 5.1 percent in July from a year earlier after posting an annual 5 percent gain the previous month.
The U.S. housing market has been helped by a strong labor market and low mortgage rates. Home prices have been lifted by a lack of houses for sale, which often creates bidding wars for homes.
The Commerce Department reported Monday that sales of new homes fell 7.6 percent in August, slowing after sales hit a nearly nine-year high the previous month. Last week, the National Association of Realtors (NAR) said sales of existing homes fell 0.9 percent in August.
–SPA
17:16 LOCAL TIME 14:16 GMT