Home Prices Hit New Record In November 2021 But Expected To Slow In 2022

Home prices across the country climbed 18.1% year-over-year (YOY) in November 2021, according to CoreLogic’s Home Price Index (HPI) Report. This is the highest annual growth since at least 1976 when the HPI began. For comparison, the annual growth in November 2020 was 8.1%. Home price growth, which is calculated against the median national home sale price, was up in all four price tiers measured by CoreLogic. The lowest price tier rose 19.8% YOY, while the low- to middle-priced tier rose 19%. Middle- to moderately-priced homes saw an increase of 19.1%, while high-priced homes saw prices rise 18.6%. Arizona saw the highest YOY appreciation (+28.6%), followed by Florida (+25.8%) and Idaho (+25.5%). Washington, D.C., and Alaska were at the bottom…