US home selling prices probably climbed in August

Figures collected by real estate data provider CoreLogic suggest that US home selling prices in the twenty metropolitan areas covered by the more widely followed S&P/Case-Shiller (SPCS) survey rose by 0.6% in August, completely reversing the decline recorded over the May-June span. 

Before seasonal adjustment, home prices likely posted an even-larger 0.9% gain during the reference period, placing the latest reading of 183.5 5.7% above the level recorded in August 2014. 

"This projection, if accurate, would leave home prices a little over 13% below their pre-Great Recession high. Particular attention would be paid to the breadth of price gains across the 20 cities canvassed by SPCS", says Societe Generale. 

In the July report only half of the 20 of the cities canvassed by SPCS posted sequential price increases.