U.S. Home Price Insights – January 2023
Annual home price growth dipped to the lowest level in two years in November 2022.
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The Office of the Chief Economist works on critical research and insights to gauge the temperature of the housing market as a whole. From home price analyses to home equity, from loan performance to single family rent evaluations, they keep tabs on the movement and fluctuation of bellwether metrics that can inform the trajectory of the housing economy–and consequently affect the homeowners who participate in it.
Annual home price growth dipped to the lowest level in two years in November 2022.
Both the U.S. mortgage delinquency rate and foreclosure rate remained near historic lows in October.
U.S. single-family rent growth posted an 8.8% year-over-year gain in October, the sixth straight month of annual declines.
U.S. homeowners gained a total of $2.2 trillion in equity in the third quarter, up by 15.8% year over year but down significantly from the second quarter.
U.S. home prices were up by 10.1% year over year in October, about half the annual growth recorded this spring.
U.S. overall mortgage delinquencies dropped for the 18th consecutive month year over year in September.