Market Update: August home prices continue gains, but at a slower monthly pace.

October’s Case Shiller report shows that home prices rose 0.9 percent from September to August 2013 and increased 12.8 percent, compared to August 2012. Quicken Loans economist Bill Banfield made the following coments

“The trend of a healing housing market continues with the slowing of monthly gains in home prices. The unsustainable double digit gains have given way to slower growth which signals a normalized market. While this might be troubling to some homeowners hoping for a quicker growth in equity, this is one sign that the housing market is not forming another bubble.”  

If you would like to talk to someone at Quicken Loans, please contact us.