Home price growth fueled by high demand for single-family homes was higher in July according to Case-Shiller’s National Home Price Index. Analysts said that millennials seeking to purchase homes and the continued exodus from large urban areas propelled rising home prices. Home prices grew fastest in the West and Southeastern regions. While home prices grew moderately before the pandemic, high unemployment has not impeded rapid home price growth since the pandemic. Low mortgage rates and … [Read more...]
What’s Ahead For Mortgage Rates This Week – August 31, 2020
Last week’s economic news included readings from Case-Shiller Home Price Indices, along with data on new and pending home sales. Weekly readings on mortgage rates and new and continuing jobless claims were also published. Case-Shiller: Home Price GrowthHolds Steady in June National home prices grew at a seasonally-adjusted annual pace of 4.30 percent in June, which was unchanged from May’s year-over-year growth rate for home prices. The 20-City Home Price Index rose by 3.50 percent … [Read more...]
Case-Shiller: June Home Prices Rise as Affordability Crisis Grows
According to the National Case-Shiller Home Price Index for June, U.S. home prices rose 4.30 percent year-over-year, which was unchanged from May’s year-over-year home price growth rate. Home prices are expected to continue growing through 2020 as businesses reopen and COVID-19 restrictions ease. Case-Shiller’s 20-City Home Price Index for May showed Phoenix, Arizona held the top spot with 9.00 percent year-over-year growth; Seattle, Washington followed with 650 percent growth in … [Read more...]
What’s Ahead For Mortgage Rates This Week – August 24, 2020
Last week’s economic news included readings from Case-Shiller on home prices, the National Association of Home Builders Housing Market Indices, and sales of previously-owned homes. Readings on housing starts and building permits issued were released. Weekly reports on mortgage rates, new and continuing jobless claims were also published. NAHB: Home Builder Confidence Rises in August The National Association of Home Builders reported that builder confidence in housing market conditions rose … [Read more...]
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