Market Update: Home Prices Continued to Climb in March

The Case-Shiller report showed a 4.4% increase in home prices annually in March.

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

“The current Coronavirus pandemic is only exacerbating the already low housing inventory, causing home prices to trend up. While prices plummeted during previous periods of financial distress, currently, purchase demand is strong – keeping them steadily rising. Unless there is a major shift in the amount of people looking to buy a house, it seems owners will continue to see their home’s value increase every month.”

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