CoreLogic Insights Blog
The CoreLogic Home Price Index for July 2020 shows U.S. home prices increased 5.5% year over year, which was the highest annual increase in almost two years. A combination of strong demand, low mortgage interest rates and low supply of for-sale homes pushed home prices up. Price increases were widespread, with all states showing annual gains. Idaho led the states with an increase of 9.8% and New York had the lowest increase at 1.1%. While home prices are predicted to slow through the next year due to high unemployment, price growth is predicted to stay positive.
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