Home Price gains remained steady across nation, Home Prices hit all time high in April, Consumer Confidence Index for June
June 27, 2017
Home price gains remained steady across the nation due in part to low home loan rates and a limited supply of homes for sale. The S&P/Case Shiller 20-city Index saw a gain of 5.7% from April 2016 to April 2017. A spokesperson for the index said that home prices continue to rise faster than inflation. “Since demand is exceeding supply and financing is available, there is nothing right now to keep prices from going up,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.
Black Knight Financial Services reported on Tuesday that home prices hit their all-time high in April of $275,000. Home prices rose 3.6% in April from the beginning of 2017 and were up 1.5% from March and up 6% from April 2016. Black Knight reported that the state of Washington continues to outperform the nation, leading all states in monthly appreciation for the third consecutive month and with the Seattle metro area seeing an 8.4% gain in home prices since the start of the year.
The Conference Board released its Consumer Confidence Index for June, which came in at 118.9, above the 116.7 and above the 117.6 recorded in May. The report showed that consumers’ assessment of current conditions improved to a nearly 16-year high in June. On an overall basis, “Consumers anticipate the economy will continue expanding in the months ahead, but they do not foresee the pace of growth accelerating,” said Lynn Franco, Director of Economic Indicators at The Conference Board.
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