US home prices soared another +18.1% in August.

US Home Prices Vaulted to 45-Year High in August

US home prices surged +18.1% y/y in August, according to the latest monthly CoreLogic Home Price Index recently released.  This +18.1% y/y increase is the largest annual rate of home price acceleration since CoreLogic began keeping tabs on this data in January 1976.  Additionally, this increase of +18.1% is the seventh consecutive month of double-digit home price growth in this country.

The month-to-month home price increase between July and August came in at 1.3%.

READ: 2022 Top Agent Success Secrets [Revealed]: New FREE Real Estate Coaching Web Event, Revealing 17 Surprising Secrets Of The Top 100 $ Millionaire Agents. Get Your FREE Spot For The 2022 Real Estate Coaching Webinar Now. After You Have Attended This Event You Will Have A Huge Feeling Of Relief Knowing You Will FINALLY Laugh At Your Money Worries – You Will Have Your Own Personalized 2022 Step-By-Step Business Plan. Learn Now How To Generate 100’s of Motivated Leads for FREE, Without Coming Off As A Pushy Salesperson and Losing Your Soul. You Will Soon Know How To Become One of the 1000s of Agents Making HUGE Money Who Never Thought They Could. YES, I Want To Attend The FREE Webinar! <——Click To Register

P.S. Free Webinar, Limited Space. Less Than 300 Spots Still Available.

Overall Growth

CoreLogic’s latest monthly Home Price Index report indicated that the August 2021 HPI gain of +18.1% paled the August 2020 gain of 5.9%.  To repeat, this +18.1% y/y price acceleration was the highest 12-month home price gain since 1976.  CoreLogic credits August’s HPI gains to low inventory, low mortgage rates and an influx of investors into for-sale activity.

States with Highest and Lowest Home Price Increases:

  • Idaho – +32.2%
  • Arizona – +29.5%
  • Utah – +26.1%
  • Montana – +24.4%
  • Nevada – +22.7%
  • Tennessee – +22.7%
  • Washington -+21.5%
  • Florida – +21.5%
  • Rhode Island – +21.5%
  • Indiana – +20.5%
  • National – +18.1%
  • Louisiana – +10.3%
  • Alaska – +10.3%
  • New York – +9.4%
  • North Dakota – +7.3%

HPI Changes in Top 10 Metros

  • Phoenix – +30.9% y/y
  • San Diego – +23.2% y/y
  • Las Vegas – +22.2% y/y
  • Denver – +19.5% y/y
  • Los Angeles – +14.9% y/y
  • Houston – +13.6% y/y
  • Washington DC – +13.1% y/y
  • Miami – +11/8% y/y
  • Boston +11.8% y/y
  • Chicago – +9.9% y/y

Projections Over Next 12 Months

Such home price gains are projected to slow substantially over the next 12 months.

Overall, CoreLogic is predicting that month-over-month gains are to drop to 0.3% and year-over-year home price gains are to drop to 2.2% over the next 12 months.

CoreLogic’s Market Risk Indicator (MRI) predicts that metros such as Springfield MA, Chico CA and Merced CA are at high risk (50-70%) to see a decline in home prices over the next 12 months.  Metros such as Norwich-New London CT and Worcester MA are at moderate risk (25-50%) of seeing a decline in home prices.

Thanks to CoreLogic.








Claim Your FREE Real Estate Treasure Map!