Sam Fleming | Financial Times
The lasting legacy of the US housing crash has ranked at the top of the so-called “headwinds” that Federal Reserve policy makers such as Janet Yellen cite when discussing America’s economic prospects.
A host of indicators are suggesting now that, even if the property market remains well below its boom-time highs, it is firmly in recovery mode.
The Case-Shiller index of home values in 20 cities rose 4.9 per cent from a year earlier in April, according to data released Tuesday, with values in Denver and San Francisco rising around 10 per cent from a year earlier. That came after the National Association of Realtors index of pending home sales hit its highest level since April 2006.
