Home Price Growth Holds Steady in October
December 28, 2018
U.S. home price was unchanged October. This is welcome news for an industry continues to be hindered by rising mortgage rates and worsening affordability.
The S&P CoreLogic Case-Shiller price index showed October’s prices were up 5.5 percent annually, the same increase as in September. The growth suggests that the year will end on a modest note, having seen growth rates above 6 percent earlier in the year. This may be bad news for sellers, who are unable to get the prices they had anticipated, but will be welcome for buyers, as home prices continue to grow at a faster pace than inflation.