House prices appear to be finally stabilizing after a disastrous fall in the previous year. The current trend could help the construction industry and overall employment figures if house prices continue to increase.
The Standard & Poor’s/Case-Shiller composite index of home prices in 20 metropolitan areas rose 1.2 percent in August from July, above the estimate of a 0.7 percent rise found in a Reuters poll. The increase, however, was less than the 1.6 percent seen in July, S&P said.
The composite index of prices in 10 metropolitan areas gained 1.3 percent in August after a 1.7 percent rise the previous month.
