Bock Mortgage Group

Michael Bock and Theresa NeSmith

  • Company NMLS #2504921
  • Home
  • About
    • About Us
    • Privacy Policy
  • Blog
  • Resources
    • Connect With Our Commercial Loan Expert
    • First Time Buyer Tips
    • First Time Seller Tips
    • Loan Checklist
    • Home Appraisal
    • Home Inspection
    • Loan Programs
    • Loan Process
    • Mortgage FAQ
    • Mortgage Glossary
    • What to Expect at a Loan Closing: A Step-by-Step Guide
  • Reviews
    • Read Reviews
    • Leave a Review
  • Apply
  • Contact

Team Mortgage Mikes May 29, 2019 Leave a Comment

Case-Shiller: Home Price Growth Slows in March

Case-Shiller Home Price Growth Slows in MarchCase-Shiller Indices reported slower home price growth in March with a 3.70 percent gain year-over-year as compared to 3.90 percent home price growth for the year-over-year period in 2018. This was the slowest pace of home price growth in seven years.

The 20-City Home Price Index showed Las Vegas, Nevada as having the top year-over-year home price growth rate of 8.20 percent; Phoenix, Arizona had year-over-year home price growth of 6.10 percent. Tampa, Florida had the third highest growth rate for home prices at 5.30 percent. Analysts said that all three cities continue their recoveries from deep home price declines during the recession.

Did Home Prices Grow Too Fast?

David M. Blitzer, managing director and chairman of the S&P Dow Jones Index Committee, said that given strong economic signs in other sectors, housing should be doing better. He said that too-high home price gains may have caused slowing growth in home prices as fewer prospective buyers can afford skyrocketing home prices in many metro areas.

The 20-City Home Price Index showed New York City was the only metro area posting a negative growth rate in March; this was attributed to the region’s already high home prices. Fluctuating mortgage rates likely sidelined some prospective home buyers, especially first-time and moderate income buyers.

The U.S. Department of Housing and Urban Development reported that home affordability reached a ten-year low in the end of 2018. Coupled with short supplies of affordable homes and builders focusing on high end housing development, shortages of affordable homes are expected to continue, particularly in high demand metro areas.

Slower home price growth indicates that the rapid rise in home prices in recent years aren’t sustainable as fewer prospective buyers can afford to buy homes or cannot qualify for purchase money mortgages. When home prices rise faster than inflation and wages, home buyers encounter more challenges in their searches for affordable homes.

 

Filed Under: Market Outlook Tagged With: Case-Shiller, Market Conditions, Market Trends

Leave a Reply

Your email address will not be published. Required fields are marked *

Looking for something?

Michael and Theresa Bock

Contact Us


Michael Bock
Mortgage Loan Originator

CALL 727-457-6498


Michael NMLS #1749855
Theresa NMLS #1996065

Bock Mortgage Group

CONNECT WITH OUR COMMERCIAL LOAN EXPERT

CLICK HERE  

Sign Up to Receive Our Articles in Your Inbox!

No spam ever and you can unsubscribe anytime.

APPLY NOW  
GET A RATE QUOTE

Connect with Us!

Categories

Michael Bock | NMLS #1749855
Theresa Bock | NMLS #1996065
Licensed Mortgage Loan Originators
Bock Mortgage Group LLC. | NMLS# 2504921

• To view our NMLS Filings, CLICK HERE
• Click Here to Read Important Disclosures

Florida · Clearwater, FL · Pinellas County, FL · Brandon, FL · Pasco, FL · Saint Petersburg, FL · Wesley Chapel, FL · Riverview, FL · Tampa, FL

Equal Housing Opp

Previous Posts

Connect with Us!

3660 Erindale Dr.
Valrico, FL 33596

Return to top of page

Copyright © 2025 Bock Mortgage Group. All rights reserved.   Log In