CaseShiller Home Prices Grow At Fastest Rate Since June 2014

Dated: 11/29/2017

Views: 376

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

Latest Blog Posts

Now Is The Time If You Are Considering Selling

The housing market has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019,

Read More

How To Best Navigate New Color Trends

Bold, saturated colors are back after years of calm beiges, soothing grays, and varied whites dominating the interior design scene. What’s a homeowner to do?For years, homeowners and their real

Read More

6 Metrics You Must Know To Identify Great Investments

biggerpockets.com/Billionaire Andrew Carnegie famously said that 90 percent of millionaires got their wealth by investing in real estate.While this is true historically, we seem to have reached a

Read More

How AI Will Enter The Real Estate Market And Accurately Predict Future Property Appreciation Values

Technology continues to disrupt the residential real estate industry at a rapid pace. In 2020, it’s becoming more and more necessary for brokers to utilize technology and artificial intelligence

Read More