U.S. Home Prices Are Still Appreciating

       at a Near Record-Setting Pace

 

               CoreLogic reported that U.S. home prices continued to rise at a blistering pace in September – up 18.0% on a year-over-year basis. 

 

               This was only down slightly from the YOY rate of 18.1% that was reported in August 2021 – which was the largest annual gain ever recorded in the 45-year history of the CoreLogic Home Price Index.

 

Single-family detached homes

continue to be in highest demand

 

               In September, appreciation of detached properties (19.6%) was the highest measured since the inception of the index – and 7.4 percentage points higher than that of attached properties (12.2%).

 

               To illustrate how hot U.S. housing markets currently are, go to Page 6 and look at the Market Momentum Readings for the 17 housing markets that I follow. 

 

                A recording-setting 16 of 17 cities logged-in price momentum readings that were in double–digits. 

 

               Only Chicago was still in single-digits. 

 

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