According to the S&P/Case-Shiller Home Price Indices report released today, home prices are rising but the pace may be slowing.
Home Prices Rising at Slower Pace
The National Index grew 7.1% in the second quarter and 10.1% over the last four quarters. All 20 cities in the composite posted gains on a monthly and annual basis. However, only six cities showed prices rising faster this month than last, compared to ten cities in May. The 10-City and 20-City Composites posted annual increases of 11.9% and 12.1%, respectively.
Home Prices Back to 2004 Levels
As of the second quarter of 2013, average home prices across the United States are back at their early 2004 levels. While prices remain well below their 2006 peak, increasing property values are boosting household wealth, helping underpin consumer spending, which accounts for about 70 percent of the economy.
Still a Good Time to Purchase
With home prices rising and mortgage rates rising – home affordability continues to remain high. While renting is ideal for some, others may be feeling the sting of rising rent or simply be ready to own their own place.
Our loan officers pride themselves on helping new home buyers with one of the biggest purchases they will ever make. Inlanta offers a variety of loan programs to meet specific financial needs including FHA, USDA, FHA 203k (Loans for Fixer-Uppers), VA and conventional mortgage loans.
S&P/Case-Shiller Home Price Indices
The S&P/Case-Shiller Home Price Indices are the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. The S&P/Case-Shiller Home Price Indices are published on the last Tuesday of each month at 9:00 am ET.
About Inlanta Mortgage
Celebrating its 20th Anniversary, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.
Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.
Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS #1016. Inlanta Mortgage has been named to the Scotsman Guide Top Mortgage Lenders 2012 list, Mortgage Technology’s Top Tech Savvy Lender List, is a Top 100 Mortgage Banking Companies in America in 2012 and among the Fastest Growing Milwaukee-Area Firms.