The S&P/Case-Shiller Seasonally Adjusted Home Price Index rose 5.1% in the past year, ending in March 2016. In the last quarter of 2015, single-family home prices rose by 1.1%, followed by a 0.7% rise in prices during the first quarter of 2016. These increases follow a slight increase of 0.1% in the third quarter of 2015, which was preceded by a decrease of -0.4% in prices.
Since November 2015, New York’s single family home prices have been rising at a decreasing rate, until March 2016, where prices increased by 0.5%, up from a 0.2% increase in February 2016.
Home prices appear to be rising strongly, giving a signal of momentum as we move into the busy spring selling season. “Ever since 2012, that was the bottom of the market, it’s been chugging along, going up. And it’s not exciting, but it’s positive and I don’t see why it won’t continue for a while,” Shiller told FOX Business.
With the Fed maintaining 0% interest rates, it will be interesting to see what changes may or may not be made before the critical election in November.
