Advertisement
New Zealand markets closed

  • NZX 50

    11,796.21
    -39.83 (-0.34%)
     

  • NZD/USD

    0.5887
    -0.0018 (-0.31%)
     

  • NZD/EUR

    0.5525
    -0.0020 (-0.35%)
     

  • ALL ORDS

    7,817.40
    -81.50 (-1.03%)
     

  • ASX 200

    7,567.30
    -74.80 (-0.98%)
     

  • OIL

    82.48
    -0.25 (-0.30%)
     

  • GOLD

    2,395.00
    -3.00 (-0.13%)
     

  • NASDAQ

    17,394.31
    -99.31 (-0.57%)
     

  • FTSE

    7,829.25
    -47.80 (-0.61%)
     

  • Dow Jones

    37,775.38
    +22.07 (+0.06%)
     

  • DAX

    17,710.17
    -127.23 (-0.71%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • NZD/JPY

    90.9230
    -0.3310 (-0.36%)
     

U.S. home price growth slows, sales surge

Reuters Videos
Updated

The spike in home prices may be losing some of its sizzle but not home sales.

The S&P CoreLogic Case Shiller index that monitors prices in 20 U.S. metropolitan areas rose 1.2% in August. That’s the smallest gain since July of 2020, and it was less than what economists had expected.

An official at S&P DJI said the data suggest housing price growth may be beginning to decelerate.

Growth on a year-on-year basis also slowed, dipping from July’s record level to 19.7%. That was also short of estimates.

Sunny cities in the southwest and southeast reported the highest annual price gains: Phoenix, San Diego and Tampa.

ADVERTISEMENT

Those rising prices are not deterring home buyers.

Sales of single-family homes surged to a six-month high in September. The Commerce Department reported Tuesday new home sales jumped 14%. Still the buying frenzy has abated from last year as workers return to offices and schools reopened.