Home price growth resumed in September after slowing down a bit, DataQuick noted in a new research report.
Besides the short summer pause, home price growth has spread consistently across the country over the past 12 to 18 months. Here's a small excerpt from the DataQuick report.
According to Gordon Crawford, Ph.D. and vice president of analytics for DataQuick, this steady increase in home prices should have some immediate implications on various areas of the housing market.
“We expect that the home price growth we have experienced as of late will begin to affect multiple areas of the housing landscape,” Crawford said. “Some immediate implications to look for include an increase in home price listings and overall sales as homeowners with negative equity are gradually swept toward a position of positive equity, a decrease in foreclosures as homeowners have the equity to sell and avoid default, and an increase in demand for home equity lines of credit as borrowers look to tap into increased equity from home price growth.”