Market update: Case-Shiller shows monthly home prices up 0.9% in March

This morning’s Case-Shiller Home Price Index for March reported that home prices rose 5 percent year-over-year, and rose 0.9 percent month-over-month in the 20-city index. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“As we move deeper into the traditional home buying season, the low level of homes for sale in many markets is continuing to push prices higher. Once more owners realize the opportunity to sell their home, price gains will slow and prices may even dip in response to the greater choice for buyers.”

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