US: Case-Shiller home price index to show a steady increase in June - Nomura

Home prices have been rising steadily as buyers compete for a limited supply of homes for sale as lackluster growth in home inventories continues, and analysts at Nomura are expecting a steady increase in the Case-Shiller home price index in the near term.

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“According to the National Association of Realtors data, the average national median sales price of existing single-family homes in Q2 was at $256k, up 6.2% y-o-y. Likewise, we think the Case-Shiller home price index, which tracks existing singlefamily home prices, to show a steady increase in June.”