June 22, 2021

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The daily business briefing: May 24, 2021

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U.S. house prices are expected to continue rising this year, even faster than forecast three months ago, according to a poll of analysts Reuters released Monday. The S&P CoreLogic Case-Shiller 20-metro-area house price index has risen steadily over the last year, averaging 11 percent this year. Reuters‘ May 11-24 poll of 40 property analysts found that house prices were expected to gain at an average 10.6 percent pace this year, nearly twice the 5.7 percent forecast in February. That would be the fastest annual house-price increase since 2013. “The housing market is in line with fundamentals as interest rates are attractive and incomes are high due to fiscal stimulus, making debt servicing relatively affordable and allowing buyers to qualify for larger mortgages,” said Nathaniel Karp, chief U.S. economist at BBVA. [Reuters]

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