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30 Second Market Update - Housing is Consistently Strong

The S&P CoreLogic Case-Schiller Home Price Index (HPI) was released this month showing that national home prices continue to appreciate at a level of 5.5% for the year.   This number was in-line with last month, but still points to continued housing strength.  Some of the highest levels of appreciation were seen in the following cities: Las Vegas (12.8%), San Francisco (7.9%), Phoenix (7.7%), Seattle (7.3%) and Tampa (6.4%). The HPI tracks residential, single family real estate values.

The Federal Housing Finance Agency (FHFA) Home Price Index also tracks single family housing data.  For this release, the FHFA reported that national home prices have appreciated at a rate of 5.7% annually. Even though this number is slightly tamer from last month, it is again pointing to continued housing strength.  The data contained in this report analyzes homes that were purchased via conforming, conventional mortgages that utilized Fannie Mae and/or Freddie Mac guidelines.  VA and USDA mortgages are excluded from this report. 

Both of these reports point to a consistently strong national housing market.  Both show national levels of appreciation for the year of over 5%.  We understand there are some markets that aren’t seeing strong levels of appreciation, but where appreciation is found it is helping families increase wealth and is continuing to make home ownership a great financial opportunity.

Sources:

http://bit.ly/2Kgo7Wr

http://bit.ly/2yzdquX