U.S. housing price records biggest gain in seven years

The price of single family homes in the United States again recorded in May their biggest gain in annual terms in seven years, said Tuesday Standard & Poor’s ( S & P) , who said that these data indicate that the housing market ” continues to strengthen .”

The Case- Shiller , which prepares the firm to study the evolution of housing prices , index rose 12.2% in May compared with the same month last year in the twenty largest cities.

The advance was 11.8 % in the ten largest cities.
In both cases these increases are the largest recorded since March 2006, before the bursting of the housing bubble in this country, although experts had calculated a slightly steeper climb.

Moreover, when compared to the levels that were in April, prices of single-family homes in the twenty largest cities have advanced 2.4% and 2.5% in the top ten .

Two of the twenty cities surveyed by S & P , Dallas and Denver, in May reached levels not seen since they began developing this index, also before the peaks reached before the start of the housing crisis.

In annual terms , San Francisco registered the highest advance with 24.5 %, followed by Las Vegas ( 23.3%) , Phoenix ( 20.6%) and Atlanta ( 20.1%).

” The housing prices continue to strengthen ,” he said Tuesday in announcing this information the chairman Indices S & P , David Blitzer, who highlighted the changing trends shown in this report , as the case of Miami and Tampa , which ” is lagging behind compared to western cities . “

In any case, since hitting their peak in June and July of 2006, housing prices in both the 20 and the 10 largest U.S. cities accumulate a drop of 25% and 24% , respectively .

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