U.S. single family home price growth has decreased for the past 12 months, as evidenced by the most recent CoreLogic Home Price Index. In May, the index showed an increase of only 1.4% year over year. This is the lowest price growth rate since March 2012.
It is worth noting that the index reported a 0.7% month-over-month price increase for May. This measured increase follows a total of seven months of month-over-month declines in single-family home price growth. It is likely that the ongoing effects of the pandemic are still driving home prices lower and have the potential to continue to do so, albeit at a slower rate.
The most important elements:
• U.S. single family home price growth has been decreasing for 12 months
• CoreLogic Home Price Index shows an increase of only 1.4% year-over-year
• Lowest price growth rate since March 2012
• 0.7% month-over-month price increase was reported in May
• Effect of pandemic still driving home prices lower
You can read this full article at: https://www.housingwire.com/articles/west-coast-housing-market-prices-continued-to-fall-in-may-corelogic/(subscription required)
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