Market Update: Home prices rose 5.4% since last year

This morning’s Case-Shiller Home Price Index for March reported that home prices increased 5.4 percent year-over-year, and rose 0.9% from the previous month in the 20-city index. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“The rising home prices across the country further prove Americans’ desire for home ownership. Although the number of houses available continues to lag behind those looking to buy, the enthusiasm in the market should give a good argument to owners thinking of selling.”

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