Housing prices in the US rose slightly in August after three consecutive monthly declines, according to the Case Shiller survey released Tuesday by Standard & Poor’s.
The average price of homes for sale in the 20 largest US cities rose 0.1% in seasonally adjusted data, according to the survey.
Over a year, real estate prices in these cities are also up 5.1%, slightly more than what analysts expected (+ 5.0%).
The index shows that about one month several cities on the West Coast have seen their prices continue to climb, like Seattle (+ 0.7%), San Francisco (+ 0.5%) and Portland (+ 0.9%) . However Chicago (-0.4%) and Detroit (-0.5%) in the Midwest were down.
Most indicators show “the strength” of the real estate sector, said David Blitzer, head of the index Standard & Poor’s, said in the statement.