The Federal Housing Finance Agency shows that home prices rose 0.5% over the last monthly period, and 6.1% over the last 12 months. Someone needs to tell that to appraisers, who assigned a value lower than the REPC price on four of my loans last Friday. So much for the spirit of giving. Maybe it’s not a localized trend and that’s the reason why the number of Existing Home Sales dropped 10.5% last month. Or maybe home buyers and their representatives have already checked out for the rest of the year like the Federal Reserve, who will not be making any more asset purcheses until 2016.
