Home prices slowed for the second straight month in a row in June, according to the CoreLogic’s Home Price Insight report…(CoreLogic)
- Y-O-Y: Home prices nationwide increased year over year by 18.3% in June when compared with June 2021.
- M-O-M: Home prices increased by 0.6% when compared to May.
NOTE: Home price growth fell to its lowest level since October 2021 when growth was 18.0%.
Florida took the top spot with 31.8% year-over-year growth in June followed by Tennessee (25.8%) and Arizona (24.9%)…
- TOP METROS: Phoenix, AZ barely held on to the top spot with 26.1% year-over-year growth followed by Miami (+25.3%) and Las Vegas (+24.3%)
Looking ahead, The CoreLogic HPI Forecast indicates that home prices will increase on a month-over-month basis by 0.6% from June to July and on a year-over-year basis by 4.3% from June 2022 to June 2023.
Selma Hepp, Deputy Chief Economist for CoreLogic, said that despite the slowdown demand is still out there if a home is priced right. “Nevertheless, buyers still remain interested, which is keeping the market competitive — particularly for attractive homes that are properly priced.”