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| Sponsored by Quicken Loans |
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| Gains in Home Prices Soften |
| By Suzanne De Vita |
Appreciation is continuing to moderate, abated by flattening home-building and home sales. According to the latest S&P CoreLogic/Case-Shiller Indices, home prices in November rose 5.2 percent year-over-year—a dip from October, when prices were up 5.3 percent. In June, annual appreciation stood at 6.2 percent. "A combination of cyclical and short-term factors put a damper on home-price growth in November," says Ralph McLaughlin, deputy chief economist and executive of Research and Insights at CoreLogic. "On the cyclical side, a maturing economic expansion set a low ceiling for continued price growth, especially given recent challenges in affordability and inventory. Short-term factors included contentious midterm elections and decade-high ...
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There are many benefits to purchasing an older home—you'll get character, and could pay a lower price upfront.
