Homes west of the Mississippi River are seeing strong home price growth and fueling solid growth in the overall economy, according to the S&P/Case-Shiller Home Price Indices for July 2015. According to the indices, 14 cities, most of them in the West, reported greater price increases in the year ending in July than the year ending in June.
Home sales activity cooled off in August, and September sales may not have heated up enough to recoup the losses — but there is still time left in the year to rally, says Auction.com. According to the online real estate marketplace’s Real Estate Nowcast, August home sales fell 4.8 percent to 5.31 million units, the second-largest decline we have seen in more than four years.
Although pending home sales backslid slightly in August, housing is still in short supply and home prices continue to climb in many markets, according to the National Association of Realtors’ (NAR) latest Pending Home Sales Index (PHSI).