- Apr 28, 2015
- Reaction score
- Third Coast
- Political Leaning
Home prices jumped nearly 20% in February, but slowdown may be coming, S&P Case-Shiller says
Home prices continued to surge higher in February, but rising mortgage rates may make that kind of growth unsustainable in the months ahead.
Home prices increased 19.8% in February year over year, according to the S&P CoreLogic Case-Shiller national home price index.
The 10-city composite annual increase came in at 18.6%, up from 17.3% in the previous month. The 20-city composite was up 20.2%, rising from 18.9%.
Phoenix, Tampa, Florida, and Miami saw annual home price gains of 32.9% 32.6% and 29.7% respectively.
For a median-priced home financed with a 30-year loan, the monthly payment is $550 higher than a year ago,
But hey, "a slowdown may be coming"! Right?
20%! Hard to believe. And 30% in Phoenix, Tampa, Florida, Miami, etc.
Who would have the guts to buy in this market?