CoreLogic: Home Price Gains Expected to Slow to 2.7% by Next Year
Americans are continuing the trend started at the beginning of the pandemic 19 months ago, seeking larger homes in areas with lower density and prices continue to skyrocket for unattached dwellings in those areas. That’s not to say that price gains are moderating in other areas as demand outstrips supply. The company’s Home Price Index (HPI) set another record in July. Over the 12 months ended in July, the HPI increased 18 percent. the largest annual growth in the U.S. index since the series began with the year ended in January 1977 and was 0.8 percentage point higher than in June. The July appreciation of detached properties (19.7 percent) was again the highest measured in the history of the index and was nearly double the 11.6 percent increase in attached properties.
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