Housing prices line the road to recovery

September 30, 2014

It seems the political unrest in Hong Kong isn’t just a headache for the Chinese. Uncertainty about Hong Kong’s pro-democracy demonstrations caused U.S. stocks to fall yesterday, following the lead of their Asian and European counterparts, while the same unease pushed U.S. bond rates higher.

Just-released U.S. home price data for July also failed to meet expectations, with prices increasing 6.7 percent over July, 2013, figures — short of the 7.5 percent rise that analysts had predicted.

As this Reuters graphic shows, each of the 20 markets that comprise the composite showed year-over-year home price increases, but at a decelerating cumulative rate.

Happily, despite turmoil in Hong Kong, Ukraine and the Middle East, housing is an outlier, and the general U.S. economy is proving increasingly robust. Let’s hope the trend continues.

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