Market Update: Home Prices Rise 5.8% Annually in November

This morning’s Case-Shiller Home Price Index for November reported that home prices rose 5.8 percent year-over-year, and rose 0.1 percent month-over-month in the 20-city index. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“Home prices rose in November, pushed by stubbornly-low home inventory as sellers still wait on the sidelines. While owners enjoy seeing the value of their investment grow, some markets are running into an affordability problem – especially with areas in the west seeing double-digit yearly price growth.”

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