U.S. home prices showing resiliency during pandemic

U.S. home prices showing resiliency during pandemic

U.S. home prices showing resiliency during pandemic
According to the latest Home Price Index from Radian, home prices across the U.S. climbed at an annualized rate of 6.3 percent during the first half of the year. Between July 2019 and June 2020, the index rose 8.1 percent with 20 major metropolitan markets recording price gains during Q2.

“While there has been localized volatility in home prices during the pandemic, prices overall have remained quite resilient,” said Steve Gaenzler, senior vice president of data and analytics at Radian. “After gains across the U.S. slowed in May, the first half of the year ended on an impressive note, especially given the significant headwinds real estate transactions have faced.”

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 2.875 percent and 15-year rates are near 2.5 percent.

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