The Case-Shiller Home Price Index, showed that nationally there was a 4.3% annual gain in June, which was unchanged from the gain we saw in May. The 20-city Index rose 3.5% year over year, down from 3.6% in the previous report.

Regionally, price gains in Phoenix, Seattle and Tampa continued to be the strongest in the nation. Phoenix posted a 9% year-over-year price increase, followed by Seattle with a 6.5% increase and Tampa with a 5.9% increase. Price gains were smallest in Chicago, New York and San Francisco.

The FHFA (Federal Housing Finance Agency) released their House Price Index, which measures home price appreciation on single-family homes with conforming loan amounts. Home prices rose 0.9% in June and are up 5.7% year over year, which is a big improvement from the 4.9% in the previous report.

New Home Sales, which measures signed contracts on new homes, were up 14% in July, which
was much stronger than the small gain expected. Sales are now up 36% year over year. The
median new home price increased 7.2% year over year to $330,600…but this is not
appreciation. It means that half the homes sold above and below that figure, meaning that more higher priced homes sold. Don’t let the media fool you and make you believe that people are getting priced out of homes and they are going up too fast.

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Source: MBS Hwy