According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased year over year by 4.9% in May, 2024 – the lowest rate of appreciation since October 2023. In addition, CoreLogic predicts that by May 2025, national price gains are projected to slow to 3%. Indeed…
“While national annual home price growth continues to slow as anticipated, cooling appreciation over the past months is now observed in more markets, as the surge in mortgage rates this spring caused both slowing homebuyer demand and prices…However, persistently stronger home price gains this spring continue in markets where inventory is well below pre-pandemic levels, such as those in the Northeast.” Said Dr. Selma Hepp, chief economist for CoreLogic.
Click here to read the full report at CoreLogic.
