Home Prices Still Rising

Oct 02, 2018

Pending home sales were on the rise in August, according to new data from the National Association of Realtors (NAR)

Home prices in August increased nationally by 5.5 percent from a year ago and by 0.1 percent from the previous month, according to new data from CoreLogic.

Among the states, Nevada and Idaho experienced double-digit annualized home price increases at 13 percent and 12.2 percent, respectively, while North Dakota’s one percent drop made it the lone state with a price decline. Among the nation’s 100 largest metro markets, CoreLogic determined that 38 percent were overvalued, 18 percent were undervalued and 44 percent were at value. CoreLogic is forecasting a 4.7 percent year-over-year home price increase from August 2018 to August 2019, but a 0.4 percent drop from August to September 2018.

"The rise in mortgage rates this summer to their highest level in seven years has made it more difficult for potential buyers to afford a home," said Frank Nothaft, Chief Economist for CoreLogic. "The slackening in demand is reflected in the slowing of national appreciation, as illustrated in the CoreLogic Home Price Index. National appreciation in August was the slowest in nearly two years, and we expect appreciation to slow further in the coming year."

But, of course, there is more to buying a home than just the cost of the house. Today’s homebuyer should expect to pay an average of $40,000 in one-time fees to purchase the typical home, according to new data from Zillow’s RealEstate.com and Thumbtack.

"Buying a home, especially for the first time, is an exciting but stressful experience," said Justin LaJoie, RealEstate.com General Manager. "Some of that stress can be eased by making sure you know all of the costs that come with buying and owning a home, so you can budget appropriately and not get caught off guard well into the buying process."

About the author

Phil Hall

Link copied

Published

Oct 02, 2018

Industry News

Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Analysis and Data

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Nov

Pasadena, CA

More from

Industry News

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News

Sep 22, 2026