February’s Case-Shiller home price index for February reported that home prices rose 0.76% month-over-month (SA) and rose 12.9% year-over-year. Quicken Loans vice president Bill Banfield offers the following comments on the report:
“Despite the flattening of monthly home price gains, we’re still seeing a healthy appreciation when you take a step back. In conjunction with rates ticking back down recently, this moderation may bring some folks back in the market who’ve been previously priced out.”
If you would like to talk to someone at Quicken Loans about today’s report or anything in the mortgage market, please contact us.