U.S home price growth slowed for the second consecutive month in August according to S&P Case-Shiller’s national home price index. National home price growth fell by -9.8 percent year-over-year as compared to July’s year-over-year reading of -5.3 percent. Home price growth slowed by -1.1 percent month-to-month from July to August.
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Last week’s economic reporting included readings from the National Association of Home Builders on national and regional U.S. housing markets. The National Association of Realtors(R) reported on sales of previously-owned homes, and the Commerce Department released readings on building permits issued and housing starts. Weekly readings on mortgage rates and jobless claims were also released.
Last week’s economic reporting included readings on month-to-month and year-over-year inflation and the minutes of the most recent meeting of the Federal Reserve’s Federal Open Market Committee. The University of Michigan published its preliminary consumer sentiment reading and weekly reports on mortgage rates and jobless claims were also released.
