NEW YORK U.S. single-family house worth appreciation slowed lower than forecast in October, as there have been hints of some re-acceleration in house costs in some cities by year-end, in response to a carefully watched survey launched on Tuesday.
The S&P/Case Shiller composite index of 20 metropolitan areas gained four.5 p.c in October from the prior yr, in contrast with a revised four.eight p.c enhance in September. A Reuters ballot of economists forecast a four.four p.c enhance.
On a seasonally adjusted month-to-month foundation, costs within the 20cities rose zero.eight p.c for the month. A Reuters ballot of economists had forecast a rise of zero.four p.c.
However, non-seasonally adjusted costs fell zero.1 p.c within the 20 cities on a month-to-month foundation, Analysts had anticipated them to be unchanged.
“After a long period when home prices rose, but at a slower pace with each passing month, we are seeing hints that prices could end 2014 on a strong note and accelerate into 2015,” David Blitzer, chairman of the index committee at S&P Dow Jones Indices, stated in an announcement.
A broader measure of nationwide housing market exercise rose at a four.6 p.c clip on a year-over-year foundation, in contrast with a four.eight p.c charge in September. The seasonally adjusted 10-city gauge rose zero.7 p.c inOctober versus a revised zero.2 p.c achieve in September, whereas the non-adjusted 10-city index dipped zero.1 p.c for a second straight month in October.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)