Home Prices Grow at Slowest Pace in 10 Years; Consumer Confidence Up
The S&P/Case-Shiller home-price index for 10 major metro areas fell 0.4% in November vs. October, with a year-on-year price gain of just 1.3%, the slowest pace since late 1996. A year ago, home prices were rising about 16% year-over year.
The S&P/Case-Shiller index is based on repeat sales of single-family homes in 20 major markets.
The median price of new homes has fallen 1.5% in the 12 months ending in December, according to the Census Bureau.
The median price of an existing single-family home was flat in the 12 months ending in December, according to the National Association of Realtors
- ECONOMIC REPORT Home prices grow at slowest pace in 10 years - MarketWatch
- S&P index: Home price growth is slowing - BusinessWeek
- US home prices fell in November - S&P/Case Shiller - Reuters
- S&P Index: Home Price Growth Is Slowing - Forbes
The Conference Board Consumer Confidence Index edged up slightly in January, following strong rise in December. The Index now stands at 110.3 (1985=100), up from 110.0 in December. The Present Situation Index increased to 133.9 from 130.5. The Expectations Index, however, declined to 94.5 from 96.3 last month.