Market Update: Home Prices Rise in August

This morning’s Case-Shiller Home Price Index for August reported that home prices rose 5.1 percent year-over-year, and rose 0.4 percent month-over-month in the 20-city index. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“The small pool of available homes on the market has continued to push prices higher. Those who are waiting to list may be influenced by this sustained home price growth, giving a boost to home inventory. An increase in inventory could be exactly what is needed for first time home buyers to find the home they’re waiting for.”  

If you would like to speak to Bill about this or any other topic, please contact us.