Real Estate, Real Estate Agent

Home Prices Keep Rising, and So Does Consumer Confidence

OK, confirmed: The once-ailing U.S. housing market is robust again, and although its spring performance wasn’t quite as strong as expected, consumers are gaining confidence, which will likely translate into more sales in coming months.The S&P/Case-Shiller U.S. National Home Price Index, which tracks home prices across the nation, on Tuesday reported a 4.2% annual gain in April 2015, while the 20-city composite grew 4.9% and the 10-city composite showed a 4.6% gain.“All sales data points in May were extremely strong—this is officially the best, healthiest spring market since the peak of the housing boom in 2006,” said Jonathan Smoke, chief economist of realtor.com®.Though year-over-year gains dipped slightly last month—April’s 4.2% rise is slightly less than March’s 4.3%—Smoke said those figures reflect a slow thaw after a tough winter season.“This data represents February to April, which were still under the effects of the harsh winter,” Smoke noted. “But I would characterize the data as clear evidence of steady, above-average price appreciation.”

Source: Home Prices Keep Rising, and So Does Consumer Confidence