Market Update: Home prices increase 5.1 percent year-over-year

  • August 30, 2016

This morning’s Case Shiller Home Price Index for June reported that home prices increased 5.1 percent year-over-year, and rose 0.8% from the previous month in the 20-city index. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“The strong home price growth in much of the country, and meteoric rise in the West, is led by a continued lack of homes available for sale. While homeowners welcome rising prices, it could begin to hinder new buyers if affordability comes into question – especially with home prices rising twice the speed of inflation in much of the country.”

If you would like to speak to Bill about this or any other topic, please contact us.

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