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Latest CoreLogic report shows price appreciation decelerated to 4.9% annually in May
Case-Shiller and FHFA analytics point to price gains slowing
Year-over-year growth slowed for all market segments except higher-priced rental properties.
“We welcome today’s reading and hope for more like that,” Fed Chair Powell said at the close of Wednesday's FOMC meeting.
Homeowners with mortgages, which account for roughly 63% of all properties, collectively gained $1.5 trillion in equity since the first quarter of 2023, an average increase of $28,000 per borrower.
Softening in the market forecasted as mortgage rates remain elevated and the number of new listings rise.
