US Home Prices continue upward momentum - Wells Fargo

Analysts from Wells Fargo, point out that home prices, measured by the  S&P CoreLogic Case-Shiller National Home Price Index increased by 1.4 points to 194.1 in July with large western markets showing the greatest price gains.

Key Quotes: 

“The S&P CoreLogic Case-Shiller National Home Price Index rose slightly more than expected in July, with the national index rising 0.5 percent. The national index is now up 5.9 percent year-to-year, compared to a 5.8 percent gain in June. 

“The 20-City index continues to lead the 10-City index due to the inclusion of red-hot markets like Seattle and Portland. Price appreciation has also slowed in some large older markets, most notably Chicago, which posted the smallest monthly gain in July. While home prices have been booming in the Pacific Northwest for some time, Denver and Dallas have, by far, seen the greatest rise in home prices relative to their previous highs.”