Market Update: Home Prices Witnessed Intense Growth in August

The Case-Shiller report showed a 5.7% increase in home prices annually in August.

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

“Home prices maintained upward momentum in August as increased sales continued to constrain inventory across the nation. This trend will likely persist well into the foreseeable future as current levels of supply are at historic lows.”

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