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Tuesday, December 26, 2017

SWAMP DRAINING: Home Prices Surge 6.2% Around U.S., While D.C. Lags

Home prices in October were up 6.2 percent from a year ago amid buoyant consumer confidence fueling strong demand from buyers.


Prices were up the most in Seattle, Washington, which registered a 12.7 percent year-over-year price increase, according to the S&P CoreLogic Case-Shiller home price indices. It was followed by Las Vegas with a 10.2 percent increase and San Diego with an 8.1 percent increase.
“Underlying the rising prices for both new and existing homes are low interest rates, low unemployment and continuing economic growth,” said David M. Blitzer, Managing Director & Chairman of the Index Committee at S&P Dow Jones Indices.
The weakest gains were in Washington, DC, where home prices rose just 3.1 percent compared with the prior year. This suggests that Donald Trump’s first year in office has been better for the rest of the country than for Washington, DC, a marked change from many of the Obama administration years.

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