National Home Prices Rise as Local Markets Diverge

The FHFA index increased 0.3% monthly and 2.6% annually in July. Case-Shiller reported a 1.9% national annual gain, up from 1.6% in June.

Among tracked cities, Chicago gained 6.9% annually while Seattle declined 1.6%. These differences show why a national index cannot establish the value or direction of a particular property.

For Florida and Georgia buyers, current comparable sales and local inventory provide a better starting point. Plan around an affordable payment and ownership costs instead of relying on future appreciation.

Mortgage-rate information is provided for education only and is not a rate quote, offer, or commitment to lend. Actual rates, fees and terms vary by borrower, property, loan program, market conditions and lock period. Home-price indexes are not appraisals or forecasts for a specific property.

Source reporting: Housing Brief Housing News. This market update is an original summary and commentary prepared by the Carson Home Team.