Here come Case-Shiller home prices...
REUTERS/Mike Blake
A newly built single-family home that is sold is seen in San Marcos, California, January 30, 2013.
Economists forecast that the 20-city index, which covers major metropolitan areas like Seattle and Chicago, increased by 5.03% year-over-year in November, according to the Bloomberg consensus.
The 20-city index ticked up by 5.1% in October.
Moreover, the October reading also showed that the national home-price index rose by 5.6% on an annualized basis.
Though prices are back at levels seen in the most recent housing bubble, economists contend that speculation and euphoria are not driving the market this time.
Home prices have been rising as a healthy jobs market and historically low mortgage rates have increased demand for homeownership since the financial crisis. Also, constrained supply helped to bid up the prices of existing homes, especially in desirable East Coast and West Coast cities.
Next Story
10 best kid-friendly summer vacation destinations in India
“Are you accusing me of bullying the US?” jokes EAM S Jaishankar when asked about India-US relations
As rain and snow events become more intense, so could our earthquakes, study finds
India-EU FTA 'most difficult, complex' due to non-trade issues: EAM Jaishankar
Retail inflation eases to 4.83% in April
