CaseShiller Home Prices Grow At Fastest Rate Since June 2014

Dated: 11/29/2017

Views: 56

Case-Shiller: Home Prices Grow at Fastest Rate Since June 2014

Home prices continued to rise in September according to Case-Shiller National and 20-City home price index reports. According to the National Home Price Index, national home prices rose 0.70 percent month for the three months ending in September. The National Index regained its pre-housing bubble peak and surpassed it by 5.90 percent as of September.

The 20-City Home Price Index rose 0.50 percent from August’s reading. Analysts forecast a growth rate of 0.40 percent month-to-month. The 20-City Home Price Index indicates a home price growth rate 0f 6.20 percent year-over-year. The 20-City Index remained 1.50 percent below its peak in 2006.

The 20-City Home Price Index showed 16 of 20 cities posted gains in home price growth. Seattle, Washington, which has consistently held the top spot for year-over-year home price growth, posted slower growth for September. Seattle held on to its lead for year-over-year home price growth with a reading of 12.90 percent. Las Vegas Nevada held second place in the 20-City Index with a year-over-year home price growth of 9.00 percent. San Diego, California held third place with a year-over-year reading of 8.20 percent appreciation in home prices.

CaseShiller Home Prices: Not the Whole Story

Analysts caution that while Case-Shiller Home Price Index reports are intended as a tool for real estate investors, they may not reflect all factors impacting U.S. housing markets. An analysis published in May by Trulia indicated that only 38 percent of U.S, homes have recovered their post-recession values. Some analysts say that methodology used for calculating the Case-Shiller home price index readings does not reflect individual or local factors impacting home prices.

In an unrelated report, the Federal Housing Finance Agency reported that home prices for properties with mortgages sold to or guaranteed by Fannie Mae and Freddie Mac were up 6.50 percent from the third quarter of 2016 to the third quarter of 2017.

FHFA reported that the District of Columbia and all 50 states posted higher home price gains for the period between Q3 2016 and Q3 2017. The top three year-over-year home price gains were held by Washington, D.C at 11.60 percent; the state of Washington held second place with a gain of 11.50 percent and Hawaii and Arizona tied for third place with year-over-year home price gains of 10.00 percent.

FHFA reported home price growth in all 100 areas it tracks and said that the Seattle, Washington region held the highest year-over-year growth rate of 14.60 percent.

For More Info Visit: http://www.bondstreetmortgage.com

Blog author image

Jessica Rojas

Jessica Rojas is an extremely dedicated and committed real estate agent who has been working in the Real Estate field since 1997. She became a licensed real estate agent in 2009 as a sales associate ....

Want to Advertise on this Site?

Latest Blog Posts

3 Programs That Allow You To Buy A Home With No Money Down In 2018

Home buyers are typically advised to put at least 20% down for a mortgage. Coming up with that amount can seem almost impossible if you have little to no money left over after paying bills each

Read More

House Hunting When You Are In A Time Crunch

In an ideal world, you’d have plenty of time to find the perfect home. However, that does not always happen. Maybe you are relocating because of a job transfer. Fortunately, it doesn’t have

Read More

How To Manage Investment Property While Working FullTime

How To Manage Investment Property While Working Full-Time In 2017, upwards of 75 percent of independent rental property owners in the U.S. reportedly worked another job on top of being a landlord.

Read More

Whats Ahead For Mortgage Rates This Week June 18th 2018

Last week’s economic reports included the post-meeting statement by the Fed’s Federal Open Market Committee along with readings on retail sales and inflation. Weekly reports on mortgage rates

Read More