Tag Archives: Selma Hepp

Through an analysis of U.S. Census Bureau data, the National Rental Home Council reports a 5.3% year-over-year increase of households moving into single-family rentals.

“While continued mortgage rate increases challenge affordability across U.S. housing markets, home price growth is in line with typical seasonal averages, reflecting strong demand bolstered by a healthy labor market, strong wage growth and supporting demographic trends,” said Selma Hepp, Chief Economist for CoreLogic.

“Annual home price growth regained momentum in July, which mostly reflects strong appreciation from earlier this year,” said Selma Hepp, Chief Economist for CoreLogic.

CoreLogic economists attribute June’s small bump in price growth to an economic rebound, a boost in the jobs market, and strong consumer spending.

In addition, although the Case-Shiller Index fell by 0.5% year-over-year, CoreLogic’s Chief Economist Dr. Selma Hepp noted that "while the annual decline reflects price drops that occurred in 2022, recent above-average price gains indicate an inflection ahead.”

"The U.S. housing market continued to strengthen in April 2023," says Craig J. Lazzara, Managing Director at S&P DJI. "Home prices peaked in June 2022, declined until January 2023, and then began to recover.

Mortgage application volume fell has fallen for a month straight, with purchase activity constrained by rates nearing the 7% mark and a lack of for-sale inventory.

“The modest increases in home prices we saw a month ago accelerated in March 2023,” says Craig J. Lazzara, Managing Director at S&P DJI. “The National Composite rose by 1.3% in March, and now stands only 3.6% below its June 2022 peak.”

A total of 10 states saw annual home price growth decline from one year ago, most of them in the West.

“The National Composite, which had declined for seven consecutive months, rose a modest 0.2% in February, and now stands 4.9% below its June 2022 peak,” said Craig J. Lazzara, Managing Director at S&P Dow Jones.