Tag Archives: home price growth

"The housing market is stabilizing after the turbulence of the pandemic, but the effects will be with us for a long time," said Zillow Senior Economist Jeff Tucker.

“While the continued imbalance between buyers and sellers continues to pressure home prices, June’s annual bump in price growth echoes economic resiliency, a thriving U.S. job market, and strong consumer spending,” said Selma Hepp, CoeLogic Chief Economist.

As reported by Realtor.com, home prices rose by 0.9% in May 2023, landing below numbers during pandemic and going further back to 2016.

While annual home price growth fell to lows not seen in a decade, growth still increased for the 134th consecutive month in March 2023.

Even though home price growth has fallen into the single digits, January posted positive gains for the one-hundred and thirty-second consecutive month.

According to the Realtor.com Monthly Housing Trends Report for December, inventory closed out the year up by 55% but remains below historic levels.

After more than a decade of overheated growth, the rapid increase in mortgage rates helped stall progress in the U.S. housing market in 2022.

CoreLogic anticipates that annual price changes will move into negative territory by the spring of 2023 before rebounding to near 2% to 3% growth in the fall.

As Fannie Mae predicted in the second quarter of 2022, home price growth decelerated sharply during the third quarter, which fell in-line with a sharp rise in mortgage rates, further proving that the current rate and home price environment is weighing on affordability.

Ginnie Mae’s MBS portfolio grew for the 15th consecutive month in September, ending the fiscal year at nearly $2.3 trillion. Alongside financing more than 143,000 homeowners and renters, Ginnie Mae MBS supported financing for more than 64,000 first-time homebuyers last month.