Home prices were up in August but the pace slowed when compared to July, according to the latest data from the Federal Housing Finance Agency…(FHFA)
- Y-O-Y: House prices rose 18.5% from August 2020 to August 2021. This is down from the 19.2% year-over-year growth reported in July.
- M-O-M: Home prices were up 1.0% from July to August. This was down from the 1.4% month-over-month gain reported in July.
Regionally, the Mountain region saw the biggest year-over-year growth while the South Atlantic had the best month-over-month appreciation…
- Y-O-Y: The Mountain region had the best annual appreciation at 25.8% followed by the Pacific region (+21.2%) and the South Atlantic (+20.6%).
- M-O-M: The South had the best month-over-month growth at 1.9% followed by East South Central and Mountain both up 1.8%.
NOTE: New England actually saw negative growth month-over-month falling 0.1%.
Dr. Lynn Fisher, FHFA’s Deputy Director of the Division of Research and Statistics said prices are still skyrocketing but they are beginning to slow…
- “-Annual house price gains remained extremely high in August but the pace of month-over-month
gains continues to decelerate…This does not mean house prices are at risk of declining—far from it, they continue to climb at a double-digit pace in all regions—but it does suggest we may have seen the peak in annual gains for the time being.”