Home Prices Up 3.6 Percent

Oct 01, 2019

September’s pending home sales data marked a second consecutive month of increases

Home prices in August increased nationally by 3.6 percent year-over-year and were up 0.4 percent from the previous month, according to new data from CoreLogic.

Idaho was the only state to record double-digit year-over-year home price gains in August, up 11.6 percent, while Connecticut was the sole state recording a decline with a 0.5 percent dip. CoreLogic also determined that 37 percent of the nation’s 100 largest metro areas had an overvalued housing market in August, while 40 percent were at value and 23 percent were undervalued.

Looking ahead, CoreLogic is forecasting annual price growth of 5.8 percent by August 2020 and a 0.3 percent uptick from August to September of this year.

“The 3.6 percent increase in annual home price growth this August marked a big slowdown from a year earlier when the U.S. index was up 5.5 percent,” said Frank Nothaft, chief economist at CoreLogic. “While the slowdown in appreciation occurred across the country at all price points, it was most pronounced at the lower end of the market. Prices for the lowest-priced homes increased by 5.5 percent, compared with August 2018, when prices increased by 8.4 percent. This moderation in home-price growth should be welcome news to entry-level buyers.”

About the author

Phil Hall

Link copied

Published

Oct 01, 2019

Analysis and Data

Late Pays Rising for Student, Auto Loans

More of those with strong credit records have gone delinquent

Delinquencies are building across two major food groups — student loans and automobile financing — the feed credit scores and are sure to impact the ability of would-be home buyers to obtain a mortgage. The Education Department hasn’t updated its official student loan rep...

Analysis and Data

Buyers Faced Bigger Down Payments in 2024

Buyers paid an average of 14.4% of the purchase price, up from 14.2% in 2023

Down payments reached record highs in 2024, both in dollar amounts and as a share of purchase price, according to a new report from Realtor.com. The typical down payment in Q4 was $30,250, slightly below Q3 but about $3,000 higher than a year earlier. "As inventory recove...