October’s Home Price Gains Break a Six-Year Record
Posted To: MND NewsWire
That the rapid rise in home prices since spring is setting near decade long highs was confirmed again this week , this time by CoreLogic. The company says its Home Price Index (HPI) rose 7.3 percent over the 12 months that ended in October and was the was the fastest rate of appreciation since April 2014. Prices were up 1.1 percent month-over-month.
The company says that home prices climbed in recent months due to heightened demand and ongoing home supply constraints. This could grow worse if the pandemic worsens and potential sellers hold off listing their homes.
There is hope, however, for meeting some of the demand. New home construction surged in October and the National Association of Home Builders reported its index measuring home builder confidence in the new home market set a third…(read more)
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