Home Prices has continually increased. This info is supported by the data as report on S&P/Case-Shiller Home Price Indices has been released on Wednesday.
MultiFamilyBiz says that S&P Dow Jones Indices has made the data available for the recent S&P/Case-Shiller Home Price Indices results. Based on the figure, U.S real estate market continues to have an increased of its home prices for the last 12 months.
The data still covers the 9 U.S census divisions. The latest results show that the year-over-year gain is slightly higher compare to October 2015 data. The figure reveals "5.3% annual increase in November 2015 versus a 5.1% increase in October 2015."
It is also noted in the report that "the 10-City Composite increased 5.3% in the year to November compared to 5.0% previously," where as "the 20-City Composite's year-over-year gain was 5.8% versus 5.5% reported in October."
For the month-over-month data, the record shows that the National Index posted a gain of 0.1% in November. However, "The 10-City Composite was unchanged and the 20-City Composite reported gains of 0.1% month-over-month in November."
Based on analysis, report says that "David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices," said that the reason for the relentless home prices increase is due to the country's continuous "low mortgage rates, tight supplies and an improving labor market." According to the record, 2015's home sales for existing houses have increased 6.5%.
New York Times says that the equivalent of 6.5% home sales is around 5.26 million. While most of Americans were able to buy their new homes because of the low borrowing costs and higher hiring growth, still the "number of available listings has fallen 3.8 percent from a year ago, causing tight inventories that have sent prices up."
The current condition of increasing home values plus limited supply could in due course put off sales growth this 2016.
Do you have any insights concerning the increasing home values and low supply?
