The surge in mortgage rates has brought the housing market to an impasse. Many buyers moved to the sidelines as the cost of homeownership became prohibitively high, while sellers were unwilling to give up locked-in record-low interest rates and expectations of peak sales prices.
Home prices nationwide, including distressed sales, increased year over year by 15.8% in July 2022 compared with July 2021
Housing market activity slowed considerably over the summer, leading to widespread deceleration in home price growth and rising concerns of a real estate downturn.
Home prices nationwide, including distressed sales, increased year over year by 18.3% in June 2022 compared with June 2021
Signs of slowing homebuyer demand are spreading wider across markets and are reflected in slowing price appreciation.
Home prices nationwide, including distressed sales, increased year over year by 20.2% in May 2022 compared with May 2021
Despite the surge in mortgage interest rates and high home prices, buyers have remained resilient and continued to seek homes, keeping the market competitive.
In April, U.S. home prices rose by almost 20.9% year over year, according to CoreLogic's most recent Home Price Index (HPI) Report.
The first quarter of 2022 was marked by some of the most competitive housing market conditions since the onset of the pandemic.
In 2021, people spent more on real estate than ever before. CoreLogic Economist Thomas Malone describes the underlying trends that led to record-breaking expenditures.
In March, U.S. home prices rose by almost 21% year over year, according to CoreLogic's most recent Home Price Index (HPI) Report.
National home prices increased 20.9% year over year in March 2022, according to the latest CoreLogic Home Price Index (HPI®️) Report . The March 2022 HPI gain was up from the March 2021 gain of 11.1% and was the highest 12-month growth in the U.S. index since the series began in 1976.