New home data shows jump in prices
As of late-July, home prices have increased 4 percent above the level seen in July 2011, according to a home price index by Radar Logic.
This April 2012 file photo shows a house sale sign at a development in Newtown, Pa. Radar Logic's home price index data provided is more timely, unadjusted and un-smoothed, making it is particularly useful for gaining deeper visibility over our housing markets, according to SoldAtTheTop.
Mel Evans/AP/File
As I have noted in the past, since the home price index data provided by Radar Logic is more timely, unadjusted and un-smoothed it is particularly useful for gaining deeper visibility over our housing markets.
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'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.
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As for the latest trends, it’s important to note that the 25-MSA Composite is showing continued year-over-year while prices continue to bounce from the lows set in late-January.
The latest data shows that as of late-July, prices have increased 4.0% above the level seen in July 2011 continuing the pattern of past years with prices now starting lose a little lift as the data moves from the typically most active spring period into a topping of activity seen in summer.
Look for tomorrow's S&P/Case-Shiller report to indicate more or less consistent trends with July showing continued but slowing improvement.
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