The Case-Shiller data tend to lag behind other housing indicators and there is some indication of a slowdown in price appreciation amidst still robust demand for homes. The National Assn. of Realtors recently reported that the national median home price was $213,500 last month.
That was a slight slip from the $214,200 median in June, but up 13.7 percent from July 2012. The real estate group also reported that housing inventory rose 5.6 percent last month to total 2.28 million homes available for sale, representing about a five-month supply at the current sales pace. Economists typically consider six months of supply to be a balanced market.
©2013 the Los Angeles Times
Distributed by MCT Information Services
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