CoreLogic reported a year-over-year increase of 3.4% in home prices as of November, with a slight monthly uptick of 0.06% from October. The forecast suggests prices may dip 0.2% in December but rebound by 3.8% from Nov 2024 to Nov 2025. Chicago led the largest metro areas with a 5.8% rise. Chief Economist Selma Hepp highlighted the ongoing cooling of demand due to rising mortgage rates, though some affordable areas, particularly in the Midwest, continue to experience upward pressure on prices.
"Heading into the end of the year, home prices remained relatively flat though showing some marginal improvement from the weakness seen moving into the fall and following the cooling of homebuyer demand amid the summer mortgage-rate surge."
"Regionally, variations persist, as some affordable areas - including smaller metros in the Midwest - remain in high demand and continue to see upward home price pressures."
Collection
[
|
...
]