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CoreLogic: Home Prices Continued to Rise Rapidly in February, Smashing Records
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Annual Home Price Growth Again Hits New High in February, CoreLogic Reports
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Today, CoreLogic released its Home Price Index (HPI) and HPI Forecast for February 2022, revealing that U.S. home prices saw a year-over-year increase of 20%, marking another series high and 12 consecutive months of double-digit gains. Although prospective buyers heavily outweigh sellers in today’s housing market, the primary culprit for rapid price gains are the record low number of homes for sale. Yet, the CoreLogic HPI Forecast shows national year-over-year appreciation slowing to 5% by February 2023 as interest rates climb, sidelining even more buyers.
The double-digit home price appreciation growth could be coming to an end thanks to sellers returning to the market, according to the latest market report by CoreLogic.
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