Late in 2023 and in early 2024 many a dire prediction flew around on social media platforms that heightened interest rates would be the end of the housing market. However, the fears have been unfounded. Data released today (26th March 2024) seems to continue to underpin that.
In January, US home prices rose at their swiftest pace since 2022, as indicated by the recent National Home Price Index data.
The S&P CoreLogic Case-Shiller National Home Price Index reported a 6% increase in January compared to the previous year, surpassing December's 5.6% rise. This marks the highest annual uptick since 2022.
Among the 20 cities monitored, San Diego and Los Angeles saw the most substantial gains, with annual increases of approximately 11% and 9%, respectively.
The release of this data coincides with a period where elevated borrowing costs have deterred potential buyers, while sellers, many of whom secured lower mortgage rates, have been hesitant to list their ...
Sign up to read the entire article. It's Free and Simple to sign up!
We are offering a
FREE 30 day trial which includes full access to the following services here at investorAi.
You only need an email address to sign up! You will NOT be billed at the end of your trial unless you wish to begin a subscription.