Economy

Home prices heat up in August but lag in big markets: S&P Case-Shiller

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Daniel Acker | Bloomberg | Getty Images

Home prices are heating up again on a national level, but some of the largest cities are lagging. That may be due to already overheated prices in those cities as well as new tax laws that limit the amount of deductions homeowners can take.

Prices rose 3.2% in August, up from the 3.1% gain in July, according to the S&P CoreLogic Case-Shiller National Home Price Index. Prices in the nation’s 10 major cities rose 1.5%, down from the 1.6% gain in July. On the index’s 20-city composite, prices were 2% higher, unchanged from July’s gain.

Seven of the top 20 cities reported greater price increases in the year that ended in August versus the year that ended…



Source cnbc.com

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