CoreLogic Insights Blog
The CoreLogic Home Price Index for December 2020 shows U.S. home prices increased 9.2% year over year, more than double the appreciation from a year ago and the highest appreciation rate since February 2014. Home prices are being fueled by a combination of record-low mortgage rates and record-low for-sale supply. While home price growth is expected to ease a bit 2021, that easing won’t occur until near the end of the year, and the average of monthly year-over-year gains will be higher in 2021 than it was in 2020. The surge in appreciation was felt across the U.S. with all states showing higher appreciation in December 2020 compared with a year earlier.
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