Because values have been going up all year.
The latest Case-Schiller Index report shows that home values nationwide continue to recover, going up 0.88% in August and 6.79% for the year – a faster recovery than the economy as a whole.
Seattle is up 8.17% for the year, and the August numbers were basically even with July, 141.69 compared with 141.78.
Is housing “out of the woods,” safely on its way to rebounding to 2006-2007 price levels?
Those are two different questions.
US Housing values are likely to remain stabilized and perhaps continue to recover, as government policy is to stimulate the economy through holding interest rates down. The current 30-year fixed rate is around 3.5%, which means that a $100,000 loan would have a monthly payment of $449.
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