U.S. home selling prices probably resumed their ascent in July

Figures collected by real estate data provider CoreLogic suggest that U.S. 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 July, erasing the 0.2% decline posted over the May-June span. 

"Before seasonal adjustment the country's home prices likely jumped by 1.5% during the reference period, placing the latest reading 6% above the level recorded in July 2014. Our projection, if accurate, would leave home prices approximately 13% below their pre-Great Recession high set in May 2006", suspects Societe Generale.

Analysts pays particular attention to the breadth of reported price gains across the 20 cities canvassed by SPCS. Following universal increases from last November through March, only half of the cities canvassed by SPCS posted gains over the April-June span.