The Case-Shiller House Price Index for May reported that home prices rose 0.19% month-over-month (SA) and 10.8% year-over-year. Quicken Loans Vice President Bill Banfield offers the following comments on the report.
“Slow and steady is the reoccurring theme for these past few months of home price data. While the year-over-year growth fell below expectations, the rise should instill confidence in a sustained and significant recovery in the housing market.”
If you would like to talk to someone at Quicken Loans about today’s report or anything in the mortgage market, please contact us.