FINANCIAL TIMES: …The Standard & Poor’s/Case-Shiller index, which tracks property values in 20 metropolitan regions across the US, rose 0.6 per cent on a seasonally adjusted basis, compared with economists’ forecasts for a 0.8 per cent gain. Prices rose 0.9 per cent in June.
Even so, prices were 12.4 per cent higher than the same month in 2012, the biggest year-to-year advance since February 2006. In June, prices advanced by 12.1 per cent from the year before.
Mr Blitzer’s comments echo those of Lawrence Yun, chief economist at the National Association of Realtors, who said last week the US may be witnessing the “last hurrah” as the jump in borrowing costs amid high prices hurts affordability and ultimately sales… (more)
