This month’s newsletter is brief as I was in and out of the emergency room four times in June with a non life threatening but pretty serious health issue. Real estate news remains pretty much the same with increasing home prices driven by very low inventory, especially in the “affordable” price ranges. I am sensing that demand is slowing a bit.
County prices up 7.8%
The S&P CoreLogic Case-Shiller Indices of the top 20 housing markets in the U.S. reported, “All cities in the closely watched housing index had increasing prices, with Seattle leading the pack with a 13.1 percent gain. The yearly national gain was an average 6.4 percent,” according to an article in the San Diego Union-Tribune.
U.S. existing home sales drop again
“U.S. home sales unexpectedly fell in May as an acute shortage of properties on the market pushed house prices to a record high,” reports CNBC.