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July 26, 2017

Home price gains in Seattle, Portland, San Francisco push U.S. to new record

  • All three cities have strong population growth and more rental properties than other U.S. cities, S&P says.
    • By CHRISTOPHER S. RUGABER
    AP Economics Writer

    WASHINGTON — U.S. home prices reached a new high in May for the sixth straight month, which may raise fears of another housing bubble roughly a decade after a previous one burst.

    The Standard & Poor's CoreLogic national home price index, released Tuesday, increased 5.6 percent in May, the latest data available. It is now 3.2 percent higher than its July 2006 peak.


     
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