theMReport.com Your trusted source for mortgage banking news
If you thought home prices would shift directions and head downward as the winter season moves in full swing, think again. Black Knight Financial Services' Data and Analytics division released its October 2015 Home Price Index report Monday, finding that U.S. home prices rose marginally by 0 point 2 percent.
However, despite the small month-over-month increase, home prices are up 5 point 5 percent year-over-year. The HPI reached 254 thousand dollars in October and is now just 5 point 3 percent off its June 2006 peak of 268 thousand dollars. In addition, the HPI is up over 26 point 9 percent from the market's bottom in January 2012.
U.S. construction spending has been on the positive side for a year and a half—that is until now.
Spending in the construction sector dipped 0 point 4 percent in November 2015 to a seasonally adjusted annual rate of 1 thousand 122 point 5 billion dollars, according a release from the U.S. Census Bureau of the Department of Commerce on Monday morning.
