Market Update: Home prices continue strong annual gains, slower monthly gains

This morning’s Case-Shiller report shows a 12.4% annual gain and a 0.6% monthly gain. Quicken Loans Director of Capital Markets Bill Banfield offers the following comments on the report:

“Home prices continued strong year-over-year climbs, but month-over-month gains slowed. The slowing in monthly gains is not a nail in the recovery’s coffin, in fact it shows a normalizing of the market and that this growth can be sustained.”

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