Is Home Price Appreciation Starting to Stall?

Sep 25, 2017

The average 30-year fixed mortgage rate posted its biggest week-over-week increase since July, according to new data from Freddie Mac

The rate of growth in year-over-year price appreciation appeared to slow down in July after accelerating throughout every month of the year, according to new data from Black Knight Financial Services (BKFS).

After hitting a peak in March of 1.3 percent in March, the monthly appreciation rate in July was only 0.5 percent. However, year-over-year growth was up 6.2 percent. And Virginia was the only state where home prices saw a month-over-month decline, albeit a relatively scant 0.2 percent.

New York home prices were the highest among the states at a 1.8 percent monthly acceleration, and the Empire State accounted for nine of the 10 best-performing metropolitan areas. Among the nation’s 40 largest metros, home prices in Virginia Beach, Va., Los Angeles, and Washington, D.C, experienced slight declines, while the home price index for San Jose topped $1 million in July, up 11.1 percent since the start of 2017. In comparison to San Jose’s XXL-sized price tag, the national home price index was only $281,000.

The rate of growth in year-over-year price appreciation appeared to slow down in July after accelerating throughout every month of the year, according to new data from Black Knight Financial Services (BKFS)

About the author

Phil Hall

Link copied

Published

Sep 25, 2017

Industry News

More Questions Than Answers At Housing Finance Climate Summit

Government officials, housing leaders, and climate scientists meet to address climate change's escalating impact on housing.

At an invitation-only gathering of senior government housing officials, industry leaders, insurance experts, climate scientists, economists, investors, and data analysts last week, the prevailing attitude of “urgent but manageable” disguised the lack of quantifiable, actiona...

Analysis and Data

Luxury Home Prices Reach A Record High

Buyers living in the lap of luxury don't stress about mortgage rates, Redfin reports.

Although luxury homes haven’t necessarily become any more luxurious this year, home prices on those properties grew an average 8.7%, selling for a record $1,225,000 in the first quarter, according to a new Redfin report. However, prices of non-luxury homes rose at roughly ha...