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By Alexander Bueso
Date: Wednesday 26 Jul 2023
LONDON (ShareCast) - (Sharecast News) - Home prices in the U.S. rose in May, led by gains in the largest cities, the results of a closely watched survey showed.
In seasonally adjusted terms, S&P's Core Logic Case Shiller National Home Price Index increased at a month-on-month clip of 0.7%.
Meantime, prices in the 10 largest cities were up 1.1% and in the 20 biggest by 1.0%.
Year-on-year the HPI fell by 0.5%, after a dip of 0.1% in April (Bank of America: -1.0%).
The price index for the 10 largest cities slowed its annual rate of decline to -1.0% from -1.1% and the index for houses in the 20 largest cities fell by 1.7%, the same as during the previous month.
Chicago, Cleveland and New York sported the biggest annual increases in prices, of 4.6%, 3.9% and 3.5%, respectively.
Commenting after the relase of the latest house price figures, Nancy Vanden Houten, Lead US economist at Oxford Economics said: "Despite the May gains in home prices, we see limited upside for existing home prices as the year progresses given ongoing affordability challenges and as the economy enters a recession later this year.
"We expect annual home price growth by all measures to turn negative this quarter and to bottom-out at -5% around the beginning of 2024."
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Currency | UK Pounds |
Share Price | 15,820.00p |
Change Today | -295.00p |
% Change | -1.83 % |
52 Week High | 17,685.00 |
52 Week Low | 11,665.00 |
Volume | 64,447 |
Shares Issued | 201.81m |
Market Cap | £31,926m |
Value |
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Income |
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Growth |
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Strong Buy | 6 |
Buy | 10 |
Neutral | 7 |
Sell | 2 |
Strong Sell | 0 |
Total | 25 |
Latest | Previous | |
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3rd Interim | 2nd Interim | |
Ex-Div | 13-Jun-24 | 14-Mar-24 |
Paid | 31-Jul-24 | 07-May-24 |
Amount | 79.00¢ | 79.00¢ |
Time | Volume / Share Price |
16:35 | 16,884 @ 15,820.00p |
16:35 | 38 @ 15,820.00p |
16:35 | 108 @ 15,820.00p |
16:35 | 443 @ 15,820.00p |
16:35 | 26 @ 15,820.00p |
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