U.S. home prices posted a broad-based gain of 1.2 percent in July, a closely watched survey said, indicating continued recovery in the real estate market, the monthly S&P/Case-Schiller survey said.
Housing trends often are reflected in furniture imports, which account for about 10 percent of U.S. containerized imports.
PIERS, a Journal of Commerce sister company, reports that furniture imports rose 5.3 percent to 893,700 20-foot-equivalent units in the first half of this year. That total was 9 percent below the 982,695 TEUs in the first half of 2007, before the housing bubble popped.
The Case-Schiller survey found that seasonally adjusted prices rose in 18 cities and that unadjusted prices rose in all 20 cities surveyed for the third straight month. In 19 cities, they were up for the fourth straight month.