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/.

NPR

How Do You Spot A Nonconformist? You Can Start With Their Internet Browser

According to Adam Grant, a person's preferred browser is one way to tell whether they accept or reject the defaults in their life. His new book is called Originals: How Non-Conformists Move the World.
NPR

Calif. Restaurant Gives Diners Ocean View — Up Close

The Marine Room is a restaurant right on the beach. When the tide is high, waves will literally hit the windows.
NPR

Clinton And Sanders Test New Campaign Tactics Ahead Of New Hampshire

Hillary Clinton is trailing Bernie Sanders in New Hampshire. The way they're campaigning in that state ahead of Tuesday's primary tells you something about how they're positioned in the race.
NPR

Super Bowl 50 Tightens Cybersecurity

This year's Super Bowl will be held in the most technologically advanced stadium in the world. FBI special agent John Lightfoot talks to NPR's Rachel Martin about the threat of cyber attacks.

Leave a Comment

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