The S&P Case-Shiller Home Price Indices isn’t the only index tracking home-price activity, but it’s among the most closely followed. And, according to their most recent release, the rising home prices are evident. In fact, they were up 8.4 percent year-over-year at the end of October.
Rising Home Prices
Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, says prices were increasing pre-COVID and have only accelerated since then. “We’ve noted before that The National Composite Index began to accelerate in August 2019,” Lazaara said, “but COVID-related restrictions interrupted its growth in May and June.” “Since June, our monthly readings have shown accelerating growth in home prices, and October’s results emphatically emphasize that trend,” Lazzara added. The last time home prices increased this quickly was more than six years ago. However, though recent increases have been significant, they’re mostly due to a lack of homes available for sale this fall. We will see less prices spikes in the spring when more homes are for sale. Click on the link for more information.
Here at A1 Mortgage, we know how important it is to choose the right house for you and your companion. We have the responsibility to provide you with the best products and the highest level of customer service possible. With hundreds of loan programs available, we tailor a loan specific to your mortgage needs. So come get pre-approved and start shopping for your dream home by clicking here!