Home Price Growth Continues to Accelerate:
Up 18.1% YOY in November
As reported by CoreLogic, national home prices continued to rise at a record-setting year-over-year rate in November 2021 – up 18.1% from a year earlier. For comparison, the annual growth in November 2020 was 8.1%
Cities in the West continue to rank highest in home price appreciation, with Phoenix leading the way at 30.5% year-over-year.
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Price appreciation for detached properties (19.4%) was 1.4 times greater than for attached properties (13.6%) in November. That percentage gap has decreased for the last 10 straight months – most likely due to greater affordability.
Price Momentum is Increasing
The surge in home price appreciation occurred across the country, with most states showing higher appreciation in November 2021 than in November 2020. No states posted an annual decline in home prices.
The states with the highest rates of price appreciation were …
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