House Price Index Shows Modest Gain

OriginationNews reports after a rise of 1.8% in April, the first increase in seven months, the 20-city S&P Case Shiller house price index (HPI) rose 2.2% in May, for the second consecutive month. While the HPI is down 0.7% from a year ago May, all 20 cities showed positive gains in May, and all but three posted increases compared to April. Index committee chair David Blitzer, noting home values usually rise in the warmer months, and that housing data is currently a mixed bag, said, “The housing market appears to be stabilizing, but we are definitely in a wait and see mode for the next few months.” MHProNews has learned prices are 33% below their peak six years ago.

(Photo credit: Paul J. Richards/afp/getty images)

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