Home prices hit another record high in September as stock shortages spurred competition for well-priced homes.
Year-over-year, prices rose 3.8%, up from 2.5% in August, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index.
Prices were up 0.3% month-over-month before seasonal adjustment and 0.7% after. This is the eight straight month of increases.
Prices were up month-over-month in 15 of 20 cities, and both the 10- and 20-city composites analyzed saw prices exceed both their year-ago and January levels.
The National Composite surpassed its previous record high with this data, and ten individual cities hit record-breaking prices.
“On a year-to-date basis, the National Composite has risen 6.1%, which is well above the median full calendar year increase in…
Data released today shows home price gains improved in August both annually and month-over-month.
Year-over-year, prices rose 2.6%, up from 1% in July, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index.
Prices were up 0.4% month-over-month before seasonal adjustment and 0.9% after. This is the seventh consecutive month of increases.
Home prices are now at all-time highs in the two composites and seven stand-alone cities, and prices rose in 19 of 20 cities after seasonal adjustment (13 of them before adjustment, as well). The National Composite surpassed its previous record high with this data.
Craig Lazzara, managing director at S&P DJI, noted that regional differences remain “substantial.”
“On a year-over-year basis, the three best-performing metropolitan areas in…
As home prices continue to rise across the country, New England is a hot spot for year-over-year gains.
CoreLogic’s national Home Price Index increased for the 139th consecutive month in August, up 3.7% YOY, the biggest gain since February 2023. Prices are now 42% higher than in March of 2020, when the pandemic began.
Massachusetts’ top-dollar homes reflect a growing interest in the Northeast. New Hampshire, Maine, Vermont, and Rhode Island sported the largest YOY price gains in August.
Strong jobs markets and relative affordability make the Northeast and Mid-Atlantic attractive to cost-sensitive buyers, pulling them away from pricey areas that were hot in the last few years.
Not every market saw an appreciation jump. In eight states, prices fell…
Data released today shows annual home price gains were stagnant in June but continue heating up in the short term, with month-over-month prices rising.
Year-over-year, prices remained unchanged after slipping 0.4% the prior month, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index.
Prices were up 0.9% month-over-month before seasonal adjustment and 0.7% after. This is the fifth consecutive month of increases.
Home prices are now at all-time highs in half the cities analyzed, and the National Composite sits just 0.2% below its all-time high from last year.
Craig J. Lazzara, managing director at S&P DJI, noted that regional differences remain “striking.”
The West Coast hubs that saw a huge migration during the pandemic performed the worst (-5.9%).…
Home price appreciation is back to breaking records after a period of declines, pushing homeownership further out of reach for many Americans.
Black Knight’s Home Price Index hit an all-time high in June for both seasonally adjusted and unadjusted levels, up 0.67% from May and 0.8% YOY. This is a serious comeback after 14 straight months of annual declines.
Basically every major American metro saw month-over-month growth explode as demand continues to outstrip supply. In 30 of the country’s 50 largest markets prices have hit new highs.
“We’ve been noting for some months that the recent rate of home price gains would have a lagging, but significant, impact on the annual rate of appreciation. Well, June marked that inflection point……
Home price appreciation is now half of what it was in April, its lowest recorded point since early 2021, according to new data from CoreLogic. October’s CoreLogic Home Price Index recorded a 10.1% increase YOY. Though still elevated, it continues to decrease from record highs earlier this year. The coming months are expected to push growth back into single digits. Month-over-month, prices were down 0.1% from September. Low inventory, waning buyer purchase power, and economic uncertainty are at the heart of the issue, CoreLogic leaders say. Price growth is expected to cool through next spring when the housing market may go negative before slowly rebounding in the latter half of 2023. CoreLogic predicts appreciation will be 4.1% next October. “Following…
Home price appreciation continued to cool in August though growth remained elevated from a year earlier, according to new data. The S&P CoreLogic Case-Shiller National Home Price NSA Index saw home prices decelerate, posting a 13% annual gain in August, down from 15.6% in the previous month. This is the largest monthly deceleration in the history of the index, pushing July’s record to second place. Craig J. Lazzara, Managing Director at S&P DJI, called current trends a “forceful deceleration” of home prices. “These data show clearly that the growth rate of housing prices peaked in the spring of 2022 and has been declining ever since,” he said. “As the Federal Reserve moves interest rates higher, mortgage financing becomes more expensive…
The third quarter of 2022 brought the slowest quarterly price growth since Q4 2011, showing just how quickly home prices are changing as the market rebalances. Single-family home prices rose 13.8% YOY in Q3 2022, slowing from last quarter’s 19.1%, according to Fannie Mae’s Home Price Index. The Index measures average quarterly price change for all single-family U.S. properties except condos. Prices were up only 0.2% from Q2, their slowest quarter since 2011. “Year-over-year home price growth decelerated in the third quarter, as the sharp rise in mortgage rates – and declining housing affordability – appears to have weighed further on demand,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. He added that many homeowners who might…
Home prices fell for a second consecutive month in August, with prices seeing the sharpest contractions in more than 13 years. Black Knight’s latest Mortgage Monitor Report showed huge price drops month-over-month and stalling inventory levels. Its Home Price Index saw prices decline 0.98%, with the median home price now 2% off its June peak. July’s 10.5% dip and August’s 0.98% are the largest one-month price drops since the Great Recession and are in the top eight largest dips ever recorded. “Either one of them would have been the largest single-month price decline since January 2009 – together they represent two straight months of significant pullbacks after more than two years of record-breaking growth,” Black Knight Data & Analytics President…
Home price appreciation slowed for the second month straight in June, but remains in the high double-digits. CoreLogic’s Home Price Index found that home prices increased by 18.3% YOY in June, the 125th month of consecutive annual price growth. This is down from May’s 20.2% YOY increase. CoreLogic attributes the cool-off to reduced buyer demand from rising interest rates and concerns about the economy. Month-over-month, prices are down 0.6%. “Signs of a broader slowdown in the housing market are evident, as home price growth decelerated for the second consecutive month. This is in line with our previous expectations and given the notable cooling of buyer demand due to higher mortgage rates and the resulting increased cost of homeownership,” said Selma…
