news was lean last week as the first week of the month tends to be calm
in the aftermath of the rush of end-of-month reporting.
Of note was CoreLogic’s report on housing markets, the release of the
minutes from the most recent FOMC meeting and lower mortgage rates
reported by Freddie Mac.
CoreLogic Reports Lowest Home Price Gains in Almost Two Years
August home prices hit their slowest growth rate in nearly two years
according to CoreLogic data released last Tuesday. Annual home prices
grew by 6.40 percent in August as compared to July’s reading of 6.80
percent. Year-over-year home price growth reached a rate of 11.40
percent in August.
Analysts have recently said that a slow-down in home price growth may
increase slowing demand for homes as inventories of available homes
have increased in recent months. Low inventories of available homes and
high demand contributed to rapid growth of home prices in 2013.
The slower pace of home price gains is expected to continue next
year; analysts predicted an annual growth rate of 5.20 percent in August
2015. Home prices remain about 12 percent below peak levels reached in
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