Deidre Pfeifer

Real Estate Agent, California

  • Home
  • About Deidre
  • Blog
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
  • View Listings
  • Reviews
    • Deidre on Zillow
    • Leave a Review
  • Contact Deidre

S&P Case-Shiller: Home Prices Gain in August

October 27, 2016 by Deidre Pfeifer

Home prices gained in August per the 20-City S&P Case-Shiller Home Price Index. Analysts said that home values continue to expand in spite of challenges including low inventories of available homes and strict mortgage qualification requirements.

National Home Price Index Near 2006 Peak

According to the national Case-Shiller Home Price Index, August home prices are 0.10 percent below their 2006 peak and all metro areas in the 20-City Home Price Index posted gains. Top gains in the 20-City Home Price Index were posted by Portland, Oregon with a year-over-year gain of 11.70 percent, Seattle, Washington home prices gained 11.40 percent and Denver, Colorado home prices gained 8.80 percent year-over-year.

All metro areas included in the 20-City Index posted year-over-year gains in excess of one percent. New York City had the lowest year-over-year price gain with a year-over-year reading of 1.70 percent in August. Washington, D.C. home prices rose 2.30 percent year-over-year. Home prices in the Cleveland, Ohio metro area increased by 2.90 percent year-over-year.

New Housing Bubble Unlikely

With home price gains close to peak prices seen before the housing bubble burst, concerns may arise over the potential for a new housing bubble to occur in coming months. Analysts say this is unlikely as home buyers are not taking out extreme levels of mortgage debt seen at the onset of the Great Recession. David M. Blitzer, chairman of the S&P Index Committee, said “There is no reason to fear another massive collapse is around the corner. The run-up to the financial crisis was marked with both rising home prices and rapid growth in mortgage debt.”

Possible Fed Rate Hike Won’t Cause Mortgage Rates to Explode

The Federal Open Market Committee of the Federal Reserve is expected to raise the Fed’s target federal funds rate in December. This action will lead to interest rate increases for consumer credit and mortgages, but not at levels that would make mortgage loans suddenly unaffordable. While gradual increases in federal interest rates would cause mortgage rates to rise over time, market conditions and related factors could potentially cause home prices to slow or even dip in some areas. Regional influences including employment and demand for homes are examples of factors contributing to home price growth or decline in specific areas.

Filed Under: Home Values Tagged With: Home Prices

Deidre Pfeifer

Contact Deidre


Call Today! 909.230.8181
Email: deeagent4u@gmail.com

DRE/BRE#: 01456203
Located in Rancho Cucamonga, CA

How can I help?


0 / 180

Let’s Stay Connected!

Recent Articles

  • Tips to Discover Off Market Properties Before Everyone Else
  • What’s Ahead For Mortgage Rates This Week – June 30th, 2025
  • NeighborWorks America and Building Stronger Communities Continues During National Homeownership Month
  • How Habitat for Humanity Supports Homeownership By Building Hope and Homes

Equal Housing opp

Our Location


8311 HAVEN AVE STE 180
Rancho Cucamonga, CA 91730

Copyright © 2025 · Powered by MySMARTblog

Copyright © 2025 · Genesis Sample Theme on Genesis Framework · WordPress · Log in