Morning Minute: Existing home prices and new home sales headed up

U.S. home prices rose 12.1 percent in April and the momentum was also felt in the Chicago-area market which saw a 9.3 percent year-over-year increase over the same time period, according to the Standard & Poor’s Case-Shiller index released today. Read more in the USA Today article, “Home prices up 12.1% in April,” and get the Chicago-area details in the Crain’s Chicago Business article, “Home prices up 9% in latest Case-Shiller data.”

In other news today, the Commerce Department reports that sales of new homes rose 2.1 percent in May, the highest level in nearly five years. Read more from Reuters.

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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