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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 | 17,100.00p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 17,650.00 |
52 Week Low | 10,960.00 |
Volume | 3,917 |
Shares Issued | 202.28m |
Market Cap | £34,589m |
Value |
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Price Trend |
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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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Paid | 07-May-24 | 06-Feb-24 |
Amount | 79.00¢ | 79.00¢ |
Time | Volume / Share Price |
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09:07 | 16 @ 17,110.00p |
09:07 | 55 @ 17,105.00p |
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