Home prices increased 9.3%, year-over-year, according to the S&P Case-Shiller Home Price Index. This is down significantly from the previous month's increase of 10.6%.
In the month of May the 20-City Composite Index showed a monthly increase of 1.1% with all 20 cities showing gains. The Chicago market posting an increase of 1.5%.
While home prices are still rising, the rate of increase in the slowest since February 2013. The broader economy, especially employment, is showing larger improvement.
For questions, or to find out how these home price gains affects affordability, please contact me at BarkerLoans@gmail.com.
