CoreLogic Insights Blog
The CoreLogic Home Price Index for May 2020 shows U.S. home prices increased 4.8% year over year, an acceleration in growth from the prior year. Home prices were pushed up by low supply of homes for sale and strong demand, especially by millennial home buyers. The pandemic-induced recession and high unemployment will spell the end of home price growth this year, and home prices are expected to fall by 6.6% from May 2020 to May 2021. The price decreases will be widespread, with every U.S. state seeing decreases in home prices by May 2021.
© CoreLogic, Inc. All rights reserved.