Tag Archives: Home Price gains

“Following the recent mortgage rate surge above 7%, real estate activity and consumer sentiment regarding the housing market took a nosedive,” said Selma Hepp, Interim Lead of the Office of the Chief Economist at CoreLogic.

Affordability continued to hamper first-time buyers looking to purchase a home during Q3. A new report revealed single-family existing-home sales prices grew in nearly every metro analyzed, with the national median home price climbing nearly 9% from 2021.

”The rapid increase in prices during the COVID-19 pandemic caused many U.S. housing markets to reach completely unaffordable levels for potential local homebuyers,” said Selma Hepp CoreLogic’s Interim Lead, Deputy Chief Economist.

The S&P CoreLogic Case-Shiller National Home Price NSA Index for August 2022 reported home price gains continued to slip, as inflation hit a four-decade high, resulting in less money in the pockets of Americans and diminished budgets.

While home price gains have slowed nationwide, actions by the Federal Reserve to curb inflation continue to make mortgage financing more expensive, according to the latest S&P Dow Jones Indices.

Prices grew at an annualized rate of over 19% last quarter, further pressuring homeseekers to make every penny count.

National home price growth hit 18% year-over-year in September, as major tech hubs continue to lead the way.

In which markets have home prices past their pre-recession high and continued climbing—and in which markets are prices still furthest below their peak?