Tags: home | prices | May | FHFA

Home Prices in the US Rose 5.5 Percent in Year Through May, FHFA Says

Tuesday, 22 July 2014 09:44 AM

U.S. house prices rose 5.5 percent in the 12 months through May as sales demand improved following a slowdown earlier in the year.

Prices climbed 0.4 percent on a seasonally adjusted basis from April, the Federal Housing Finance Agency said in a report from Washington. The average economist estimate was for a 0.2 percent increase, according to data compiled by Bloomberg.

More homeowners are listing their properties, giving buyers more choices. Purchases of previously owned houses rose 4.9 percent in May, the biggest monthly increase since August 2011, according to the National Association of Realtors.

“The current conditions are more encouraging for buyers,” Stephanie Karol, U.S. economist for IHS Global Insight in Lexington, Massachusetts, said in a telephone interview. “As price gains moderate and wage growth and employment growth pick up, buyers will be in a better position to make a purchase.”

The index measures transactions for single-family properties financed with mortgages owned or securitized by Fannie Mae and Freddie Mac. It doesn’t provide a specific price for homes.

© Copyright 2019 Bloomberg News. All rights reserved.

   
1Like our page
2Share
StreetTalk
U.S. house prices rose 5.5 percent in the 12 months through May as sales demand improved following a slowdown earlier in the year.
home, prices, May, FHFA
169
2014-44-22
Tuesday, 22 July 2014 09:44 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved