Market update: home prices fall 0.2 percent in June’s Case-Shiller report

June’s Case-Shiller report showed a decline of 0.2 percent in home prices. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“The gains in home prices are starting to slow but remain directionally positive. Other housing data on starts and existing home sales are upbeat and should underpin stability on the housing front. Look for prices to remain flat or even decrease a bit in the coming months, as inventory continues to catch up with demand and interest rates could rise from the cozy levels we’ve seen this year.”

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