A leading survey of the U.S. residential home market says that home prices are continuing to increase with a 7.1 percent jump in the second quarter of the year ending in June, and 10.1 percent over the last four quarters.
S&P/Case-Shiller Home Price Indices, released Tuesday by S&P Dow Jones Indices, also said that the 10-city and 20-city tabulations had returns of 2.2 percent for June and roughly 12 percent over the year.
S&P Dow Jones Indices publishes seasonally adjusted data in 20 major U.S. markets for home sales and also tracks data in condominium markets.
This newly-published data indicates that in two cities, Dallas and Denver, home sales reached new all-time highs in May and June.
New York recorded its highest monthly return since 2002 and showed improvement in annual rates of home sale prices. The city and its environs showed 1.6 percent percent growth jump in the first quarter of this year and 2.1 percent growth in the second quarter of this year.
While home prices are on the upward trend, Case-Shiller indicates that the number of sales might not increase at the same rate as buyers exercise caution on new prices and higher mortgage rates.