Market Update: Home Prices Rise to Record Levels

  • November 29, 2016

This morning’s Case-Shiller Home Price Index for September reported that home prices increased 5.5 percent year-over-year. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“With home prices growing to record highs, it’s important to remember this isn’t driven by speculation or easy credit like a decade ago. It is led mostly by constrained home availability as buyers continue to battle over the few homes for sale, especially in the West. We may see a retreat in home prices when supply opens up, increasing choice for buyers and the health of the housing market.”

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