New data from ICE Mortgage Technology shows that after declining for eight months, home price growth increased slightly in September.
According to the September ICE Home Price Index, the annual price growth rate rose somewhat from a revised +0.9% in August to +1.0% in September. During the month, prices increased by +0.08% on a seasonally adjusted basis.
The question is, why? Findings showed:
- Single-family homes accounted for the majority of the firming, up 1.3% from the same period last year and up 1.2% from August.
- Prices for condos are down 1.8% from the same period last year, which is a slight improvement from August’s -1.9% decline. The condo market is still depressed.
Measuring Home Price Trends Nationwide
Seasonally adjusted prices increased in two-thirds of key marketplaces, compared to 41% two months earlier. The fewest price declines in six months occurred in just 34% of markets…