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Posted August 3rd, 2021 for CoreLogic
Lack of supply, economic rebound and demographic trends fuel home price surge
Affordability challenges increasingly impact low- and middle-income Americans
IRVINE, Calif., August 3, 2021 CoreLogic
® , a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI
™ ) and HPI Forecast
™ for June 2021. Despite the economic ups and downs brought on by the pandemic, the housing market is still going strong . As supply and demand pressures endure and construction costs spike, in June, home price gains reached the highest annual growth since 1979. While affordability challenges intensify, low mortgage rates, rising savings and an improving labor market are helping to keep homeownership within reach for many prospective buyers. However, CoreLogic projects home price gains may slow over the next 12 months as demand moderates and for-sale inventory rises
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