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.
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.
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.