Housing prices surpassed the 2006 housing market peak across the national average in September. This information was just released in a report by the S&P Corelogic Case-shiller U.S. National Home Price NSA Index.
According to the report, housing prices in September were one tenth of a percent higher than the 2006 market average, effectively creating a new record for national average housing market price. For the average consumer this could mean that the value of the home could be worth more than its 2006 value.
For those consumers looking to purchase a home, the report by the S&P National Home Price Index is not as welcoming. This is because the report also found that income growth is being outpaced by the housing market. So while houses are becoming more valuable, incomes aren’t sufficient to purchase those homes.
To read the full report for yourself, click here.
By: Emily Boyer