prices rose at a slower pace in May, a sign that many would-be buyers are
finding properties unaffordable.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census
divisions, reported a 3.4% annual gain in May, down from 3.5% in the previous month. The 10-City
Composite annual increase came in at 2.2%, down from 2.3% in the previous month. The 20-City
Composite posted a 2.4% year-over-year gain, down from 2.5% in the previous month.
The sluggish price
growth stems largely from the most expensive markets, where years of price
growth have undermined affordability.
There were signs in a
National Association of Realtors report on existing homes that prices may get
some support from lower mortgage rates.
For all your Residential and Commercial Real Estate Appraisal needs please contact:James M. Hanson Associates, Inc.Phone: (609) 884-9185Email: Info@AppraiseNewJersey.comCommunity Resource LinksCape May Chamber of CommerceCape May County Chamber of CommerceAvalon Chamber of CommerceAtlantic City Chamber of Commerce