ABA On the Economy

Home Price Growth Continues to Rise
Home price growth in 20 major metro areas rose in August, with year-over-year growth landing at 5.1 percent, ahead of July’s 4.9 percent increase, according to yesterday’s Standard & Poor’s/Case-Shiller Home Price Index release. Fifteen cities of the 20-city composite index reported price increases in August, with double-digit increases seen in San Francisco and Denver. Year-on-year growth was highest in Denver, San Francisco and Portland, Ore.


Consumer Confidence Falls
The Consumer Confidence Index declined in October to 97.6, down from 102.6 in September, the Conference Board said yesterday. “Consumers were less positive in their assessment of present-day conditions, in particular the job market, and were moderately less optimistic about the short-term outlook,” said the Conference Board’s Lynn Franco. “Despite the decline, consumers still rate current conditions favorably, but they do not anticipate the economy strengthening much in the near-term