Annual U.S. Home Price Growth Hits 18% in October (Highest In Non-California West And Florida, Lowest In DC, NY And Illinois)

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by confoundedinterest17

National home prices increased 18% year over year in October 2021, according to the latest CoreLogic Home Price Index (HPI®) Report . The October 2021 HPI gain was up from the October 2020 gain of 7.4% and was the highest 12-month growth in the U.S. index since the series began in 1976. The increase in home prices was fueled by low mortgage rates, low for-sale supply and an influx in homebuying activity from investors. Projected increases in for-sale supply and moderation in demand as prices grow out of reach for some buyers could slow home price gains over the next 12 months.

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The non-California west (Arizona, Idaho, Utah, Nevada) and Florida have the strongest price growth while Washington DC has the slowest growth YoY.

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Other “escape to” states like Vermont, Tennessee, North and South Carolina are also showing 20%+ rates of growth while the “escape from” states of Illinois, Louisiana, New York, and North Dakota are showing low growth as in 5-10% YoY.

Waiting for you in Florida!

 

 

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