Market Update: Home Prices Continued to Rise in January

This morning’s Case-Shiller Home Price Index for January reported that home prices increased 5.9 percent year-over-year. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“Home prices continue to reach new heights, propelled by the lack of available housing. This is the narrative we have heard many times, and it is likely to continue until construction increases and provides more options for both move-up and first-time buyers.”

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