The S&P CoreLogic Case-Shiller National Home Price Index (NHPI) has been released. The NHPI rose 3.2% in August, up from the 3.1% gain in July. Prices in the nation’s 10 major cities rose 1.5%, which is down from July’s gains of 1.6%. On the index’s 20-city composite prices were 2% higher, unchanged from July’s gains. Seven of the top 20 cities reported greater price increases in the year that ended in August versus that ended in July. However, gains in the major markets were not as strong.
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Housing Market Gaining Modest Strength, Indicators Show