Breaking News - Case-Shiller Index higher for the 6th month.
Single family home climbed for the 6th month in row with the latest July S&P/Case-Shiller survey. S&P/Case-Shiller moved higher by 0.4% for the month of July on a seasonal adjusted basis, albeit it’s a positive number analysts and economist where looking for more a jump higher with July index move of 0.9%. The index on non-adjusted basis had prices coming in at better price increase of 1.6%.
The S&P/Case-Shiller Index is a composite of 20 metropolitan survey areas.
On year over year bases national home prices jumped 1.2% in July compare to July 2011 making this the second in a row of year over year gain. Previously the home prices did not increase year of year for 2 years.
For the first time in six years since the housing crisis it appears home prices have begun to maybe turn a corner. Only time will tell.
Case-Shiller Bottom Line
As homeowners see improving prices its likely many will begin to feel better and consider fixing up or improve their home either for themselves or for sale. In either case Home Depot (HD, quote) could benefit from such a move.
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