Market Update: Home Prices continue to rise
This morning’s Case-Shiller Home Price Index for July reported that home prices rose 4.7 percent month-over-month in the 20-city index. Quicken Loans vice president Bill Banfield offers the following comments on the report.
Sales of Existing Homes fall 4.8%
This morning’s Existing Homes Sales report for August showed that home sales fell 4.8 percent since the previous month, but rose 5.4 percent since August 2014. Quicken Loans vice president Bill Banfield offers the following comments on the report:
Homeowners Overvalued Their Properties In August – 7th Consecutive Month That Gap between Homeowners’ Perception of Value Widens From Appraisers’ Opinion
Homeowner estimates 2.65% higher than appraiser opinions, nationally, largest gap in over a year.