The S&P Case-Shiller Home Price Indices is considered among the leading measures of U.S. home prices. Its data goes back more than 30 years and covers all nine Census divisions. According to its most recent release, S&P found national home prices up 1.7 percent year-over-year through the end of July. That’s virtually unchanged from the previous month’s results and far weaker than the double-digit annual gains seen just a few years ago. Nicholas Godec, head of Fixed Income Tradeables & Commodities at S&P Dow Jones Indices, says prices have downshifted but it may mean a healthier housing market. “Looking ahead, the housing market appears to be settling into a new, more measured equilibrium,” Godec said. “The era of 15-20 percent annual home price jumps is behind us, and in its place, we’re seeing growth rates closer to overall inflation – or even a bit below it. While that means homeowners aren’t gaining wealth at the breakneck pace of the recent past, it also signals a potentially healthier trajectory for housing in the long run.” (source)
