Market Update: Home Prices Continue Strong Increases

This morning’s Case-Shiller Home Price Index for January reported that home prices rose 5.7 percent year-over-year, and was unchanged from the previous month in the 20-city index. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“The primary driver of the rising prices, the lack of inventory, shows the desire for housing remains strong across the country. Continued home price gains give homeowners who are considering a new home one more reason to sell as we approach the spring real estate season.”

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