Market update: Case-Shiller report shows first dip in prices in nine months

November’s home prices dipped slightly after nine straight months of sustainable increases throughout the year. Prices slipped 0.1 percent from October to November, but increased 13.7 percent from January 2013. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“When we look at prices through a more holistic lens, we see a healthy yearly increase in prices and the telling signs of a healthy housing market. Home prices may be leveling off, but this slowdown quells all fears of a bubble, while the annual increases can encourage owners to list their home.”

If you would like to talk to someone at Quicken Loans about today’s report or anything in the mortgage market, please contact us.