Home Prices Rise 1.7% Last Quarter
Prices for homes purchased with mortgages bought by Fannie Mae and Freddie Mac rose 1.7% from the previous quarter, and for the first time in 2 years, prices rose in all the regions Fannie and Freddie monitor.
This data is consistent with the other positive housing market indicators that show home sales growth.
The National Association of Realtors reported that pending sales of existing housing inventory rose 3.2% from June to July, which marks the 6th straight monthly increase in pending home sales. That is the longest streak of gains since NAR started keeping track in 2001.
Lets hope the good news in housing continues…