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CoreLogic: US Annual Home Price Growth Slows but Still Up by Over 5% in February

Retrieved on: 
Tuesday, April 2, 2024

U.S. annual home price growth remained mostly consistent with numbers seen since last fall in February but finally slowed as the residual impact of comparing gains with weak 2022 home prices wore off.

Key Points: 
  • U.S. annual home price growth remained mostly consistent with numbers seen since last fall in February but finally slowed as the residual impact of comparing gains with weak 2022 home prices wore off.
  • “Home price growth pivoted in February, as the impact of the January 2023 Home Price Index bottom finally faded,” said Dr. Selma Hepp, chief economist for CoreLogic.
  • That said, more inventory finally coming to market will likely translate to more options for buyers and fewer bidding wars, which typically keeps outsized price growth in check.
  • Miami posted the highest year-over-year home price increase of the country's 10 highlighted metro areas in January, at 10.2%.

CoreLogic: Annual US Home Price Growth Moves Up Gradually Again in January

Retrieved on: 
Tuesday, March 5, 2024

Year-over-year home price gains reached the highest rate in a year in January, but growth is expected to begin slowing in the coming months, falling to 2.6% by early 2025.

Key Points: 
  • Year-over-year home price gains reached the highest rate in a year in January, but growth is expected to begin slowing in the coming months, falling to 2.6% by early 2025.
  • Meanwhile, baby boomers who already have significant financial reserves can pay for homes entirely in cash, which further increases challenges for other buyers.
  • annual home price growth strengthened to 5.8% in January 2024,” said Dr. Selma Hepp, chief economist for CoreLogic.
  • CoreLogic’s forecast shows annual U.S. home price gains relaxing to 2.6% in January 2025.

Job Growth Continues to Drive Annual Home Price Gains in December, CoreLogic Reports

Retrieved on: 
Tuesday, February 6, 2024

CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for December 2023.

Key Points: 
  • CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for December 2023.
  • U.S. annual single-family home price growth continued its gradual upward momentum in December 2023 to 5.5%.
  • As noted in CoreLogic’s most recent Loan Performance Index report , a healthy job market continues to drive mortgage performance and housing demand.
  • CoreLogic’s forecast shows annual U.S. home price gains slowing to 2.8% in December 2024.

CoreLogic: US Home Price Growth Speeds Up Again in November

Retrieved on: 
Tuesday, January 9, 2024

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240109628017/en/
    Annual single-family home price growth moved up again in November, posting a 5.2% gain.
  • Northeastern states continued to show significant appreciation, with Rhode Island (11.6%), Connecticut (10.6%), and New Jersey (10.5%) all seeing double-digit growth.
  • In addition, 24 other states posted higher year-over-year home price gains than the national rate.
  • Areas in the Northeast, South and Midwest — where relative affordability continues to drive demand — posted the strongest home price increases.

US Home Price Growth Continues Slow but Steady Increase in October, CoreLogic Reports

Retrieved on: 
Tuesday, December 5, 2023

CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for October 2023.

Key Points: 
  • CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for October 2023.
  • View the full release here: https://www.businesswire.com/news/home/20231205927875/en/
    Figure 1: HPI & HPI Forecast % Change YoY (Graphic: Business Wire)
    U.S. single-family home price growth continued to increase modestly in October, posting a 4.7% year-over-year increase.
  • “Home price growth maintained its upward momentum in October, which continues to reflect gains from the strong spring season and contrasts with last year's home price declines,” said Dr. Selma Hepp, chief economist for CoreLogic.
  • Miami posted the highest year-over-year home price increase of the country's 20 tracked metro areas in October, at 8.8%.

CoreLogic: US Annual Home Price Growth Speeds Up in September, Reflecting Early 2023 Gains

Retrieved on: 
Tuesday, November 7, 2023

The Northeast continued to post the strongest appreciation, with Maine seeing a 10.1% annual increase, the first double-digit HPI gain recorded in any state since early 2023.

Key Points: 
  • The Northeast continued to post the strongest appreciation, with Maine seeing a 10.1% annual increase, the first double-digit HPI gain recorded in any state since early 2023.
  • Despite mortgage rates that are approaching 8%, inventory constraints and a healthy U.S. job market should help keep price growth moderate but steady over the next year.
  • CoreLogic’s forecast shows annual U.S. home price gains relaxing to 2.6% in September 2024.
  • The next CoreLogic HPI press release, featuring October 2023 data, will be issued on December 5, 2023, at 8 a.m. EST.

US Annual Home Price Growth Picks Up Pace in August, CoreLogic Reports

Retrieved on: 
Tuesday, October 3, 2023

CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for August 2023.

Key Points: 
  • CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for August 2023.
  • While some states in the West still posted annual home price losses in August, that number has been decreasing since the spring of this year.
  • Meanwhile, housing markets in New England are starting to heat up, with New Hampshire, Maine, Vermont and Rhode Island seeing the largest year-over-year price gains in August.
  • Miami posted the highest year-over-year home price increase of the country's 20 tracked metro areas in June, at 8.3%.

Annual US Home Price Growth Rebounds in July, CoreLogic Reports

Retrieved on: 
Tuesday, September 12, 2023

CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for July 2023.

Key Points: 
  • CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for July 2023.
  • The annual reacceleration reflects six consecutive monthly gains, which drove prices about 5% higher compared to the February bottom.
  • CoreLogic projects that all states that saw year-over-year losses in July will begin posting gains by October of this year.
  • “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: US Annual Home Price Growth Inches Up in June

Retrieved on: 
Tuesday, August 1, 2023

CoreLogic expects year-over-year U.S. home price appreciation to pick up for the rest of 2023 and reach about 7% by early 2024.

Key Points: 
  • CoreLogic expects year-over-year U.S. home price appreciation to pick up for the rest of 2023 and reach about 7% by early 2024.
  • Ten states and the District of Columbia posted annual home price declines in June, with some of the largest losses again recorded in the Northwest.
  • CoreLogic forecasts show annual U.S. home price gains increasing to 4.3% by June 2024.
  • Miami again posted the highest year-over-year home price increase of the country's 20 tracked metro areas in June, at 8.9%.

CoreLogic: US Annual Home Price Growth Drops to the Lowest Rate in 11 Years in May

Retrieved on: 
Tuesday, July 11, 2023

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230711669122/en/
    Annual U.S. single-family home price growth slowed for the 12th straight month in May, falling to a 1.4% increase year over year.
  • The last time CoreLogic’s Home Price index saw annual growth fall to less than 2% was in early 2012, but U.S. appreciation still remained positive for the 136th straight month in May.
  • “After peaking in the spring of 2022, annual home price deceleration continued in May,” said Selma Hepp, chief economist at CoreLogic.
  • Miami again posted the highest year-over-year home price increase of the country's 20 tracked metro areas in May, at 11.8%.