Tag Archives: Home Prices

A new report shows the likelihood of drops in housing prices—for all states and major cities—is pretty low over the next two years. This is because of low interest rates, short supply, and a tightening job market. If pricing declines do occur, they’re most likely in North Dakota, Wyoming, and Alaska, as well as Oklahoma City.

The national affordability index noted that consumers would need to spend 33.6 percent of wages to buy a median-priced home nationally. Though this is below the historic average of 34.6 percent, it is still the highest amount since Q4 2008. However, 25 percent of counties covered by the index noted that the share of average wages necessary to buy a median-priced home is above the historic average.

According to the latest S&P CoreLogic Case-Shiller Home Price NSA Index released Tuesday, home prices hit a 31-month high in January. The Index was up 5.9 percent for the year and 5.7 percent for the month. Seattle, Portland, and Denver saw the biggest price increases.

Real house prices have jumped significantly over the past year, rising more than 8 percent since January 2016. According to First American, these pricing jumps coupled with low inventory spell a seller’s market for spring. “Despite the monthly increase in affordability and continued strong wage growth, homes are less affordable across the country compared to a year ago,” said First American Chief Economist Mark Fleming.

Home prices in states like New York performed above the national standard, increasing by up to 1.3 percent, but other states such as Alabama lagged behind. In fact, Alabama metros accounted for half of the top 10 worst performing metros in the country.

The January 2017 S&P Corelogic Case-Shiller Home Price Index (HPI), which tracks monthly changes in the value of homes in 20 U.S. metropolitan regions, will be released on Tuesday. Previous data from CoreLogic has already shown upward-moving home prices across the nation, with home prices even outpacing inflation.

Quicken Loans’ National Home Value Index (HVI) measured appraisal and found that values rose 0.55 percent in February, and 2.95 percent year-over-year.

The Beige Book reports that home prices are on a steady rise in most districts, though several districts note low inventories of existing homes. Lending activity stayed steady for the most part, with some slight increases.

To celebrate President's Day, the National Association of Realtors® has produced some data showing housing health under each president. From Nixon to Trump, learn where each president ranks.

New data shows a considerable drop in the number of homes available for purchase, as well as a significant year-over-year increase in home prices.