Home Prices Rise At Best Pace In Seven Years | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Home Prices Rise At Best Pace In Seven Years

Led by more strong gains in Las Vegas, San Francisco, San Diego and Los Angeles, home prices in major U.S. cities were up just more than 12 percent on average in July vs. July 2012, according to the latest S&P/Case-Shiller Home Price Indices report.

The average increase was the largest since February 2006, Reuters adds, and is yet another sign that the housing sector is among the economy's strongest sectors.

But David Blitzer, chairman of the index committee at S&P Dow Jones Indices, suggests in the group's report that coming months may look less strong: "Following the increase in mortgage rates beginning last May, applications for mortgages have dropped, suggesting that rising interest rates are affecting housing."

More news about the economy is due at 10 a.m. ET, when the private Conference Board releases its look at where consumer confidence stood in September.

Update at 11:45 a.m. ET. Confidence Down Slightly:

The Conference Board says its consumer confidence index slipped to 79.7 in September from 81.8 in August.

Economist Lynn Franco, who directs the board's work on the index, says in its release that "concerns about the short-term outlook for both jobs and earnings resurfaced, while expectations for future business conditions were little changed."

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

WAMU 88.5

Art Beat With Lauren Landau, Sept. 30

An artist plays with symbols in a series of paintings. Art sheds light on Palestine and its people in an upcoming festival.
NPR

Millennial Jews Do An About-Face, Start Keeping Kosher

According to a 2013 Pew Research Center study, nearly a fourth of millennial Jews are keeping kosher. That's almost twice the rate of their baby-boomer parents.
NPR

Napolitano: ISIS Was One Of Many Similar Threats We Were Tracking

The former Homeland Security secretary and Arizona governor also talks about security improvements since the Sept. 11 attacks, and the frustrations and potential solutions to the immigration debate.
NPR

Kids And Screen Time: Cutting Through The Static

One Los Angeles school is working technology into the learning process while avoiding traditional screen-time pitfalls.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.