Year-Over-Year
Home Prices , Continue to Surge , Across the US.
In March, home prices
in the United States
climbed even higher.
CNN reports that the surge caused buyers
to scramble to lock in homes
before average mortgage rates hit 5%.
CNN reports that the surge caused buyers
to scramble to lock in homes
before average mortgage rates hit 5%.
Compared to the same time in 2021,
home prices rose 20.6% in March. .
That's a 20% higher rate than
the growth seen in February. .
February's growth was the highest year-over-year
price increase in the 35 years that S&P's
U.S. National Home Price Index has kept records.
Of the 20 U.S. cities tracked by the index,
prices in Tampa, Florida, topped the list
with a staggering 32.4% increase in prices.
Prices in Phoenix, Arizona, went up 32.4%,
while Miami, Florida, saw house prices climb 32%.
Prices in Phoenix, Arizona, went up 32.4%,
while Miami, Florida, saw house prices climb 32%.
In March, 17 of the 20 cities on the index saw higher
price increases in the year ending March 2022
compared to the year ending February 2022. .
In March, 17 of the 20 cities on the index saw higher
price increases in the year ending March 2022
compared to the year ending February 2022. .
More recent data on the housing market
suggests that growth may be slowing. .
Danielle Hale, chief economist for Realtor.com, suggests buyers have become unable or unwilling to purchase a home amid the highest mortgage rates in 13 years.
Danielle Hale, chief economist for Realtor.com, suggests buyers have become unable or unwilling to purchase a home amid the highest mortgage rates in 13 years.
As buyer confidence sags and weighs down demand, real estate markets will re-balance, eventually tilting away from the heavy advantage that recent home sellers have enjoyed, Danielle Hale, chief economist for Realtor.com, via CNN