U.S. home price growth accelerated in July as the nation continued to grapple with the coronavirus pandemic.
Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 4.8% annual gain in July, up from 4.3% in June. The 20-City Composite posted a 3.9% annual gain, up from 3.5% the previous month — beating analysts’ expectations of 3.6%, according to Bloomberg. The results for the first time in five months, now include Wayne County, Mich.
“The National Composite Index gained 4.8% relative to its level a year ago,” said Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, in a press statement. “The strength of the housing market was consistent nationally – all 19 cities for which we have July data rose, with 16 of them outpacing their June gains.”
For the 14th straight month,
(Bloomberg) — China home-price growth accelerated in August after a brief slowdown the previous month as credit growth rebounded and wider property curbs did little to damp buyer enthusiasm.
New home prices in 70 major cities, excluding state-subsidized housing, rose 0.56% last month, compared to a 0.47% gain in July, National Bureau of Statistics data released Monday showed. Values in the secondary market, which is largely free from government intervention, gained 0.34%, the fastest in more than a year.
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Policy makers have in recent months stepped up regulatory caution against developers’ leverage and excessive home-price growth, after frenetic buying spread from the country’s biggest cities to some booming regional centers. In August, cities including Nanjing and Wuxi followed Shenzhen in tightening home-purchase rules.
“Local governments rolled out targeted