Annual home-price growth rate slows to two year low MABA MassachusettsRealEstate FirstTimeHomeBuyers MassBuyerAgents

 These metros experienced the highest year-over-year rates of home-price growth in November. Courtesy of CoreLogic. The year-over-year pace of national home-price increases slowed to its slowest rate in two years in November, falling into the single-digits, CoreLogic reported, citing its monthly Home Price Insights report.    

 Home prices were up eight point six percent annually in November and down zero point two pwecent on a monthly basis. Looking ahead, CoreLogic expects national year-over-year appreciation to slow to two point eight percent in December, while home prices are expected to decline zero point one percent from November to December.   “While the recent decline in mortgage rates may bode well for the housing market, potential homebuyers are grappling with the idea of buying amid possible further price declines and a continued inventory shortage,”

 Deputy Chief Economist Selma Hepp said in a press release. “Nevertheless, with slowly improving affordability and a more optimistic economic outlook than previously believed, the housing market could show resilience in 2023.”  Geographically, the largest home-price increases took place in the Southeast, led by Florida (eighteen percent, South Carolina (thirteen point nine percent) and Georgia (thirteen point six percent).  Miami posted the highest annual increase among the country’s twenty largest metro areas, at twenty one point three percent, followed by Houston at ten point six percent and Phoenix at eight point one percent.   

The post CoreLogic: Annual home-price growth rate slows to 2-year low  appeared first on Boston Agent Magazine.

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