Home prices indicate 12 percent rise for month of September
Homes prices in the U.S. rose 12% from August to September, with prices settling after increases seen earlier in the year.
An increase in mortgage rates coupled with a rise in home prices worked to steady home sales. Now, however, prices are beginning to level off and reach more reasonable asking prices.
Luckily, mortgage rates are still at a low for this period. The average 30-year fixed loan rate fell to 4.1%. Even with this, it is projected that the housing recovery at a slow, steady rate. Total signed contracts to buy homes listed on the market fell 5.6% in September. This drop could prove to be significant, and could be a strong indicator for a dip in sales for the coming months that finish off the year.