Case Shiller shows strengthening of housing sector

According to the Case Shiller Home Price Index, home values in October rose 5.2 percent annually. This solid figure is an increase from September's 4.9 percent gain. Cities such as Portland, San Francisco and Denver all saw year over year price gains beyond 10 percent.

 While analysts believe low inflation and significant residential construction as contributing factors to these home price increases, low inventories of houses remain the main driver at hand.

"Many worry further interest rate increases in the upcoming months will hurt affordability however the latest economic predictions show the funds rate by the end of 2017 lying near 2.6 percent, suggesting potential home buyers should not fear sky high mortgage rates", says Voya Global Perspective.