The Case Shiller Home Price Index, which is seen as the industry’s most accurate gauge of home appreciation, showed that home prices rose 0.3% in March, rising to another all-time high. Home prices are now up 6.5% year over year, which was unchanged from the previous monthly report. This report certainly shows strength and resilience in the housing market and that buying a home still proves to be one of the best investments.
The Federal Housing Finance Agency (FHFA) released their House Price Index, and this index measures home price appreciation, but differently than the Case Shiller index. This one is only on single-family homes with conforming loan amounts and does not include cash buyers or jumbo loans. This report came in slightly cooler than the Case Shiller as it showed that home prices rose 0.1% in March and are now up 6.7% year over year, which came down from 7% in the previous report.
Overall, home price gains are continuing which points to a resilient and strong housing market and again proves that the housing market continues to be one of the best investments.
Source : www.mbshighway.com
By: Jon Iacono