Home Prices in 20 U.S. Cities Rise by Least in Four Years
The increase in 20 cities, which also matched the smallest since 2012, adds to signs of weakness in housing despite a pullback in mortgage rates. Affordability remains a challenge for consumers who have also been whipsawed by stock markets, the trade war and a government shutdown. A report last week showed sales of previously owned U.S. homes fell last month to the weakest pace since November 2015.
The seasonally adjusted 20-city index gained 0.2 percent from the prior month, also below projections. Economists watch the year-on-year gauge to better track trends, which show home prices continue to outpace wages.
A separate report Tuesday showed that new-home construction in the U.S. slumped in December to the weakest pace since 2016, figures that were delayed by the government shutdown.
The weakest gains were in San Diego and Washington, both under 3 percent.
Prices in San Diego, San Francisco and Seattle fell from the prior month on a seasonally adjusted basis.
https://www.bloomberg.com/news/articles/2019-02-26/home-prices-in-20-u-s-cities-post-smallest-gain-in-four-years?srnd=premium
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