Mortgage & housing market update
Home-Price Growth Improves Modestly as Regional Differences Widen
National home-price measures posted modest annual gains in June, but the latest FHFA and Case-Shiller readings show increasingly different results across regions and metropolitan markets.
Both major indexes continued to show national appreciation, though at a restrained pace compared with earlier years. Monthly movement was limited, suggesting that the national market is advancing slowly rather than beginning a broad-based surge.
The gap between stronger and softer regions remains substantial. That makes local comparable sales, current inventory, property condition and neighborhood demand more useful for a purchase decision than a national appreciation headline.
Homebuyers should avoid assuming that a national index predicts a particular home's future value. Financing should work within today's budget, with room for taxes, insurance, maintenance and association costs, rather than depending on a specific appreciation forecast.
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.