Home Prices Continue Defying Gravity (and Predictions)

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Posted To: MND NewsWire

Most forecasts at the end of 2016 called for a gradual slowdown in the pace of home price appreciation. Depending upon whom you asked, growth was supposed to slow to an annual pace in the 4% range. Not only are we nowhere close to those predictions, home price appreciation actually continues to accelerate! The Federal Housing Finance Agency (FHFA) said its House Price Index (HPI) was up 0.7 percent in August and the July change, originally reported as an 0.2 percent gain, was revised to 0.4 percent. The month-over-month change was higher than anticipated. Analysts polled by Econoday had forecast and 0.4 percent change, with a range of 0.1 to 0.5 percent. On an annual basis prices rose 6.6 percent compared to the July 2016 to July 2017 gain of 6.3 percent. Over the first eight months of 2017…(read more)

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