Market update: January home prices show year over year increase of 4.6%

U.S. home prices continued to rise at a steady rate, showing a 4.6% increase in January compared with 12 months earlier. Quicken Loans Vice President Bill Banfield offers the following comments on the report:

“Home prices continued their march forward in January, showing modest growth from the previous year. Prices may remain in this steady state for some time until we see moves in housing inventory.”

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