S & P Case-Shiller Home Price Indices reported the fastest pace of U.S home price growth in seven years. National home prices grew by 10.40 percent year-over-year in December as compared to November's reading of 9.50 percent home price growth on a year-over-year basis.
Before taking out a mortgage to buy a home, it's time to take a realistic survey of your finances so that you can determine your price range and what size of home you can comfortably afford.
Last week's economic news included readings from Case-Shiller Home Price Indices, along with Commerce Department readings on public and private-sector job growth and the University of Michigan's Consumer Sentiment Index. Weekly reports on jobless claims and mortgage rates were also released.
Home prices rose by 0.40 percent in October according to Case-Shiller's 20-City Home Price Index and were unchanged from September's year-over-year reading of 5.50 percent growth.
Case-Shiller's 20-city home price index for September reported the lowest pace of year-over-year home price growth in almost two years.
Home price growth slowed to its lowest pace in nearly a year according to the Case-Shiller Home Price Indices. National home price growth averaged 6.00 percent year-over-year as compared to 6.20 percent growth in June.