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.”
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