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【World Property Journal】Home Price Growth in U.S. Hits 17.2 Percent Annually in July

【World Property Journal】Home Price Growth in U.S. Hits 17.2 Percent Annually in July

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As supply and demand pressures endure and construction costs spike, in June 2021, home price gains reached the highest annual growth since 1979. While affordability challenges intensify, low mortgage rates, rising savings and an improving labor market are helping to keep homeownership within reach for many prospective buyers. However, CoreLogic projects home price gains may slow over the next 12 months as demand moderates and for-sale inventory rises.

"Home prices have been rising in the mid-single digits for some years now. The recent surge to double-digit price jumps reflect the convergence of exceptional demand and persistent low supply," said Frank Martell, president and CEO of CoreLogic. "With plenty of cash on the sidelines, along with very low mortgage rates, prices are heading up and affordability will become a more acute issue for the foreseeable future."

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