Home Prices Show Dramatic Rise, But Is It Broad-based?

Home prices, a primary asset of many middle-class families, continues to burst into new highs in certain regions. The S&P CoreLogic Case-Shiller home price index rose to 6.1% annual gain in August, significantly higher than the 5.8% anticipated by economists polled in a Reuters survey. But is that gain broad-based or do the post-peak gains have fat regional tails? [reits] Analyst calls home price increases “unstoppable” amid record-high valuations in houses and stocks The trend in new home sales, with interest rates at near negative rates, has been parabolic. Bumping in the 191.53 level nearly a year ago, it sprung up…