Chat
Chat with Sales Hours: Monday-Friday 8:30 a.m. - 4:30 p.m. (CST)
Contact Sales
Call Sales Toll-Free 1-(866) 774-3282 Hours: Monday-Friday 7 a.m. - 5 p.m. (CST)
Product Login
Product Log-in
Product Support
Product Support
Email Sales
Contact Sales
After Hours
  • Support
  • Sign In Sign In
  • AUS NZ UK
CoreLogic - Home
  • Solutions
    view solutions by:

    Data Solutions

    • Lead Generation
    • Property Data
    • Location Intelligence

    Real Estate

    • Multiple Listing Enterprise
    • Agent & Broker

    Mortgage

    • Origination
    • Servicing
    • Appraisal
    • Commercial Property Tax

    Insurance

    • Hazard Risk
    • Catastrophe Risk Management
    • Risk Evaluation
    • Underwriting Automation
    • Weather
    • Claims Automation
    • Restoration
    • INTRCONNECT

    Mortgage Lenders

    • Origination

    Mortgage Servicers

    • Residential Property Tax
    • Default & Loss Mitigation
    • Portfolio Insight & Monitoring

    Mortgage Appraisers

    • Appraisal

    Real Estate Agents & Brokers

    • Agents & Brokers

    Real Estate MLS

    • Multiple Listing Enterprises

    Commercial Real Estate Owners

    • Commercial Property Tax

    Marketing Departments

    • Property Data

    Insurance Underwriters

    • Risk Evaluation
    • Underwriting Automation
    • Hazard Risk
    • Catastrophe Risk Management

    Insurance Risk Managers

    • Risk Evaluation
    • Hazard Risk
    • Catastrophe Risk Management

    Insurance Claims

    • Claims Automation
    • Restoration Contractors
    • Weather Verification

    Construction Contractors

    • Restoration Contractors

    General

    • Location Intelligence
    • Lead Generation
    • Data Solutions
  • Resources

    Reports

    • Climate Change
    • Construction Cost Update
    • Construction Insights
    • Home Price Insights
    • Homeowner Equity Insights
    • Loan Performance Insight
    • Mortgage Fraud
    • Property Tax Delinquency
    • Single-Family Rent Index

    Insight Blogs

    • Hazard HQ
    • Office of Chief Economist
    • Affordable Housing
    • Homebuying
    • Insurance
    • Other Articles

    More Resources

    • Events
    • Case Studies
    • White Papers
    • Podcasts
    • Quick Takes
  • Company
    • About
    • Leadership
    • Newsroom
    • Contact
    • Careers
  • Search
CoreLogic - Home
  • Solutions
  • Resources
  • Company

    • About
    • Leadership
    • Newsroom
    • Contact
    • Careers
  • Accounts

    • Products Sign-in
  • Contact

    • Sales Contact
    • Product Support
  • Regions

    • Australia
    • New Zealand
    • United Kingdom
  • Social

    • Facebook
    • Instagram
    • Linkedin
    • Twitter
    • Youtube
Solutions
VIEW BY:
  • Data Solutions

    • Lead Generation
    • Property Data
    • Location Intelligence
  • Real Estate

    • Multiple Listing Enterprise
    • Agent & Broker
  • Mortgage

    • Origination
    • Servicing
    • Appraisal
    • Commercial Property Tax
  • Insurance

    • Hazard Risk
    • Catastrophe Risk Management
    • Risk Evaluation
    • Underwriting Automation
    • Weather
    • Claims Automation
    • Restoration
    • INTRCONNECT
  • Mortgage Lenders

    • Origination
  • Mortgage Servicers

    • Residential Property Tax
    • Default & Loss Mitigation
    • Portfolio Insight & Monitoring
  • Mortgage Appraisers

    • Appraisal
  • Real Estate Agents & Brokers

    • Agents & Brokers
  • Real Estate MLS

    • Multiple Listing Enterprises
  • Commercial Real Estate Owners

    • Commercial Property Tax
  • Marketing Departments

    • Property Data
  • Insurance Underwriters

    • Risk Evaluation
    • Underwriting Automation
    • Hazard Risk
    • Catastrophe Risk Management
  • Insurance Risk Managers

    • Risk Evaluation
    • Hazard Risk
    • Catastrophe Risk Management
  • Insurance Claims

    • Claims Automation
    • Restoration Contractors
    • Weather Verification
  • Construction Contractors

    • Restoration Contractors
  • General

    • Location Intelligence
    • Lead Generation
    • Data Solutions
Resources
  • Reports

    • Climate Change
    • Construction Cost Update
    • Construction Insights
    • Home Price Insights
    • Homeowner Equity Insights
    • Loan Performance Insight
    • Mortgage Fraud
    • Property Tax Delinquency
    • Single-Family Rent Index
  • Insight Blogs

    • Hazard HQ
    • Office of Chief Economist
    • Affordable Housing
    • Homebuying
    • Insurance
    • Other Articles
  • More Resources

    • Events
    • Case Studies
    • White Papers
    • Podcasts
    • Quick Takes

Home / Intelligence / Annual U.S. Home Price Growth Hits 18% in October

ABOUT THE AUTHOR
Molly Boesel
Molly Boesel
Principal, Economist, Office of the Chief Economist
View Profile
  • December 7, 2021

Annual U.S. Home Price Growth Hits 18% in October

Home Price Index Highlights: October 2021

  • National home prices increased 18% year over year in October.
  • Price appreciation was strongest in the Mountain West.

Overall HPI Growth

National home prices increased 18% year over year in October 2021, according to the latest CoreLogic Home Price Index (HPI®) Report . The October 2021 HPI gain was up from the October 2020 gain of 7.4% and was the highest 12-month growth in the U.S. index since the series began in 1976. The increase in home prices was fueled by low mortgage rates, low for-sale supply and an influx in homebuying activity from investors. Projected increases in for-sale supply and moderation in demand as prices grow out of reach for some buyers could slow home price gains over the next 12 months.

HPI Growth by Price and Property Type Tiers

CoreLogic analyzes four individual home-price tiers that are calculated relative to the median national home sale price.[1] Home price growth leveled off at a high rate for all four price tiers in October. The lowest price tier increased 20.1% year over year in October 2021, compared with 19.4% for the low- to middle-price tier, 19.3% for the middle- to moderate-price tier, and 18.5% for the high-price tier. The difference in HPI growth rates between the low- and high-price tiers has been narrowing for all of 2021 and in October was the smallest in ten years.

CoreLogic also provides the HPI separately for detached — or freestanding — properties and attached -properties (such as condos or townhouses). Appreciation for detached properties (19.5%) was 1.5 times that of attached properties (12.9%) in October as continued use of remote work allowed many employees to buy homes further from their office and in areas where property prices and population density are lower and detached housing is more common.

Figure 1: Home Prices Accelerate at All Price Levels


Year-Over-Year Change in HPI by Price Tier

State-Level Results

Figure 2 shows the year-over-year HPI growth in October 2021 for the 5 highest- and lowest-appreciating states. While all states showed annual increases in HPI in October, appreciation was strongest in the Mountain West. Arizona appreciated 28.8% year over year in October followed by Idaho (+28.7%) and Utah (+24.5%). At the low end, Washington, D.C., saw home prices increase 5.3%, and home prices in North Dakota increased 8%.

The surge in home price appreciation was felt across the country, with most states showing higher appreciation in October 2021 than in October 2020. Florida had the biggest acceleration in home price growth from October 2020 (+7.3%) to October 2021 (+24.4%). Washington, D.C. saw a slowdown in appreciation with prices increasing 5.3% in October 2021 compared with 5.5% in October 2020.

Figure 2: Appreciation Was Strongest in the Mountain West


States With the Highest and Lowest Year-Over-Year Change in HPI for October 2021

U.S. annual home price growth remained strong at 18% in October, the highest recorded in the 45-year history of the index. Nonetheless, monthly price growth has slowed from its April peak and signals a moderation in price growth that the CoreLogic HPI Forecast projects will continue to slow in coming months. Home price gains are projected to slow to a 2.5% increase by October 2022, as affordability and economic concerns deter some potential buyers and additional for-sale inventory comes to the market.

For more information on home price insights and trends, check out our latest HPI Report.

© 2021 CoreLogic, Inc. All rights reserved

[1] The four price tiers are based on the median sale price and are as follows: homes priced at 75% or less of the median (low price), homes priced between 75% and 100% of the median (low-to-middle price), homes priced between 100% and 125% of the median (middle-to-moderate price) and homes priced greater than 125% of the median (high price).

  • Category: Home Price Insights, Intelligence, Reports
  • Tags: Home Price Index, Housing Market, property valuation
ABOUT THE AUTHOR
Molly Boesel
Molly Boesel
Principal, Economist, Office of the Chief Economist
View Profile

Related Posts

Header Intelligence Protect storm HHQ hazard
Climate Change

2023 Severe Convective Storm Risk Report

As rising global temperatures continue to contribute to increasingly hazardous wildfire seasons, it is more important than ever for homeowners, insurers, and governments to understand the risk these hazards pose to their communities.

March 31, 2023
Construction worker framing a house
Construction Insight

Quarterly Construction Insights – Q1 2023

CoreLogic tracks construction cost for commercial, residential and agricultural construction of all types of goods (labor and materials) throughout the United States and Canada.

March 30, 2023
Jan23LPIPromo
Blogs

Loan Performance Insights – March 2023

U.S. mortgage delinquency and foreclosure rates continued to hold near record lows in January.

March 30, 2023

About Corelogic

  • Newsroom
  • Leadership
  • Careers
  • Ethics & Compliance

Accounts

  • Products Sign-in

Contact

  • Sales Contact
  • Product Support

Regions

  • CoreLogic Australia
  • CoreLogic New Zealand
  • CoreLogic UK

Follow & Connect

  • Facebook
  • Instagram
  • Linkedin
  • Twitter
  • YouTube
© 2023 CoreLogic. All rights reserved.
  • Legal
  • Privacy Policy
  • CCPA
  • Cookie Preferences
  • Security
  • Sitemap
  • Accessibility
  • Legal
  • Privacy Policy
  • CCPA
  • Cookie Preferences
  • Security
  • Sitemap
  • Accessibility