Earn 1.11% APY on your money with an Alliant High-Rate Savings Account.
Get upfront pricing, guaranteed savings, and a discounted rate on your auto loan. Members save an average of $3,106 off MSRP.
Digital wallet payments are convenient and secure.
The National Education Program is open to Alliant members between the ages of 5 and 17. Apply by Friday, August 18, 2017.
Return to The Money Mentor Blog
By Alliant Credit Union
Nationwide, U.S. home sale prices increased by 5.0% in December 2014 compared to December 2013, according to the S&P/Case-Shiller Home Price Index. This increase represents 34 months of consecutive year-over-year increases. Excluding distressed sales, home prices increased 4.9% year over year, with every state except Connecticut showing a year-over-year home price increase in December. The states of Colorado, Texas and New York reached new highs in home prices.
Sales of previously-owned homes increased 2.4% in December, according to the National Association of Realtors. The U.S. Department of Commerce reports that new home starts were up 4.4%. According to Zillow economist Stan Humphries, the increased housing inventory will make the real estate market more buyer-friendly “after years in which sellers were in the driver’s seat.”
Although the rate of home price increases has decelerated from the double-digit gains seen early in 2014, home prices are still headed in an upward direction. Improving economic trends, especially growth in employment of the Millennial age group – the prime demographic of first-time homebuyers – are seen as indicators of an improving real estate market.
CoreLogic’s 2015 Housing Outlook predicts that home sales will increase by 9% in 2015, with housing starts growing 14% and home price growth moderating, but not ending.