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Leading measures released Tuesday show home price growth suffered a setback in July, falling month to month on a seasonally adjusted basis and slowing significantly on an annual scale. Including seasonal factors, the S&P/Case-Shiller 10- and 20-city indices both posted a half a percent decline from June to July. Those losses compare to declines of 0.2 percent and 0.3 percent, respectively, from May to June. The National Index, meanwhile, inched up 0.2 percent, a step up from a small drop in June.
Removing seasonal adjustments, each index increased over the month, though growth was nearly halved compared to June. According to S&P Dow Jones, the 10- and 20-city composites each increased 0.6 percent, while the National Index was up half a percent. Price gains were also slower on an annual basis, with nearly all major markets reporting lower annual returns in than they experienced in June.
One of the world’s biggest mass media companies is buying online real estate firm Move Inc in a 950 million cash deal, according to a joint announcement. Through the deal, News Corp says it hopes to become a leading player in the expanding arena of online real estate through Move's mobile tools and its listing site, Realtor.com. The deal comes two months after two of Move's biggest competitors, Zillow and Trulia, announced plans to merge. The transaction is expected to close before the end of the year.
