According to the latest Cotality (formerly CoreLogic) Home Price Insights (HPI) report, price growth in September rose 1.2%. In addition, they say the housing market is continuing to cool off as summer goes into fall. Interestingly, they point out that nationwide home prices are starting to sag as inventory reaches its highest level since 2019.
“Although recent declines in mortgage rates have provided support for housing activity, broader improvements in demand will depend on the strength of the labor market and corresponding consumer confidence.” Said Dr. Selma Hepp, Cotality’s Chief Economist.
Click here to read the full report at Cotality.
