USA home prices rose in December at the fastest pace in 11 months as prospective buyers bid against each other for a limited supply of available property.
The aggregate index for single-family Bay Area homes is now running 5.7 percent higher on a year-over-year basis, which is down from a 10.3 percent year-over-year gain at the same time last year and an average of 7.0 percent over the past twelve months with some weakness at the top.
But if you want to look for the dark cloud in all of this I'll point out that Chicago is still tied with Phoenix for 4th from last place in terms of annual home price appreciation.
According to David Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, 'questions about whether this is a normal housing market or if prices could be heading for a fall are natural'.
Nevertheless, Blitzer said, the pace of increases is not alarming when examined in an inflation-adjusted, historical context.
Analysts consider the index a leading measure of home prices nationwide because it measures the price of the same house over time. We expect that prices will continue creeping higher in the months ahead, barring another leg higher in mortgage interest rates. That compares with a national increase of 5.8 percent. "Only an increase in inventory can soften the price pressure". Average rates for 30-year fixed mortgages rose from roughly 3.5% around Election Day to 4.32% at the end of December, according to mortgage company Freddie Mac.
"New home sales at 555,000 in 2016 are up from recent years but remain below the average pace of 700,000 per year since 1990", he said. Looking at real or inflation-adjusted home prices based on the S&P CoreLogic Case-Shiller National Index and the Consumer Price Index, the annual increase in home prices is now 3.8 percent.
Home prices grew at the fastest rate in 2.5 years in December, shrugging off higher interest rates to cap a year of robust growth.
Before seasonal adjustment, the National Index posted a monthly gain of 0.2%, which increased to 0.7% after seasonal adjustment.
And while rising home prices can trigger concerns about inflation, Blitzer said that the speed at which they are now growing "is not alarming", citing low inventory as a factor for the rise.
"Another factor supporting rising home prices is mortgage rates", Blitzer said.
Pruitt is expected to slow or reverse much of that, scaling back regulations and deferring to states on environmental enforcement. In fact, an abundance of research points to the burning of fossil fuels as the key driver of warming temperatures.
Pancake day: why not eat a crazed dictator? Lent is traditionally a time of fasting when people give up unhealthy foods. However despite the simple recipe, many people struggle to make the "perfect" pancake.
After falling out of favor with his father, Kim Jong Nam had lived in exile in Macau, a Chinese island known as a gambling mecca. A diplomatic row between Malaysia and North Korea is escalating over the handling of a probe into the killing of Kim Jong-nam.
The Treasury secretary explained that while the president is a proponent of free trade, he also believes in fair trade. One proposal, a border-adjustment tax, would increase levies on imports to the U.S.
Two of the best running backs of the last decade might be on different teams when the 2017 National Football League season begins. That would be a win-win for everybody because Kansas City clearly wants to keep both in order to hold their defense in tact.
Khan, who had been in the USA since 1993, was the owner of Parkchester Real Estate NY Inc., according to the report. Cops say Khan was stabbed to death outside the house he rented from Mahran at 1001 Logan Avenue in Throggs Neck .
The president has called on people to unite against crime and work with the authorities to bring criminals to book. The United Nations put the number of foreign migrants living in South Africa at 3.1 million in 2015.
Norwegian Air Shuttle said it will offer 14 new direct flights to small airports in the New York, Boston and New England areas. Providence to Dublin launches July 2 and runs five times weekly during the summer, three times weekly during the winter.
The original objective of the Second Amendment was to allow private citizens to own weapons for militia use. The majority opinion reverses a decision by a smaller panel of judges from the court in February 2016.
We came up with Obama". "It's definitely a joke", a co-creator told NPR. "Why not hire him as president of France?". If no candidate wins 50 per cent of the vote, the top two go through to a second-round run-off two weeks later.
Once they both return to Gotham City, Grayson, as Nightwing , often partners with Batman but supports his own solo comic series. Dick Grayson, the former Robin and occasional Batman now known as Nightwing, has a lot of fans on social media.
Late on Thursday, ISIL rocket attacks killed at least dozens of Iraqi soldiers, a day after the army secured Mosul airport. By UN estimates, between 750,000 and 800,000 civilians are in Mosul's western districts.
Students may schedule an appointment at University Health Services; faculty and staff should contact their primary care providers. Mumps is a serious contagious disease passed through saliva and respiratory secretions.
American International Group Inc. owned 0.06% of Bloomin' Brands worth $1,132,000 at the end of the most recent quarter. Public Employees Retirement System of OH raised its stake in shares of Bloomin' Brands by 15.8% in the second quarter.