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

Dean Jones, Herbie's Driver In Disney Movies, Dies At Age 84

Actor Dean Jones, who starred in The Love Bug, That Darn Cat! and other classic Walt Disney movies, also played the role of Bobby in the original Broadway cast of Stephen Sondheim's Company.
NPR

From Dock To Dish: A New Model Connects Chefs To Local Fishermen

Prominent chefs are signing up for restaurant-supported fisheries: They commit to buying fresh-caught seafood, whatever the species, from local small fishermen. A pilot program launched in California.
NPR

Fears Of Marijuana 'Monopoly' In Ohio Undercut Support For Legalization

Ohio will vote this fall on whether to legalize marijuana. The measure allows 10 growing sites; 10 groups of big investors already have dibs. Some would-be pot proponents are crying foul.
NPR

Yahoo CEO To Take Limited Leave After Giving Birth To Twins

NPR's Rachel Martin talks with Slate DoubleX Gabfest's Hanna Rosin about Yahoo CEO Marissa Mayer's decision to take just two weeks worth of parental leave after having twins in December.

Leave a Comment

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