Market Update: Home Prices Increased in September

The Case-Shiller report showed a 0.12% rise in home prices in September from the previous month and a 2.1% increase from last September.

Bill Banfield, Quicken Loans Executive Vice President of Capital Markets, offers the following insight on the report:

“The steady drumbeat of rising home prices may be a worrying sign to first-time homebuyers, however, they should not fear continued increases in price. As home construction gains momentums across the nation, we should be seeing a more ample and robust supply available – reducing the need for bidding wars which will allow prices to moderate.”

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