Banker & Tradesman

WRAPUP 1-U.S. home prices down in May, but consumer confidence strong – Yahoo Finance

The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.3 percent in May on a seasonally adjusted basis. A Reuters poll of economists forecast a gain of 0.2 percent. Non-seasonally adjusted prices rose 1.1 percent in the 20 cities, compared to an expectation of a 1.5 percent rise. “Housing has been turning in mixed economic numbers in the last few months,” said David Blitzer, chairman of the index committee atS&PDowJonesIndices, said in a statement. http://www.bankerandtradesman.com/news160520.html

The seasonally adjusted homeownership rate fell to 64.8 percent in the second quarter of 2014 from 65.0 percent in the first quarter, marking the lowest level since the second quarter of 1995. The U.S. housing market has been struggling for much of 2014, a lull blamed early in the year on harsh winter weather, but softness has persisted into the spring and summer, and many economists now expect housing to drag on economic growth this year. “Housing has been turning in mixed economic numbers in the last few months,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement. http://finance.yahoo.com/news/u-home-prices-down-may-151201896.html

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