- September was another strong month for home prices in the US.
- Home prices nationwide saw a 6.7% year-over-year increase in September, according to a CoreLogic report.
- However, accelerated growth will soon slow down, CoreLogic’s chief economist, Dr. Frank Nothaft, told Business Insider, projecting home prices in September 2021 will see a year-over-year increase of just .2%.
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September was another strong month for the US housing market.
Home prices nationwide increased 6.7% year-over-year, per a new report by CoreLogic, the fastest annual acceleration the data company has reported since May 2014.
The catalysts of this sharp growth include rising demand due to low mortgage rates coupled with a shortage of inventory, said CoreLogic’s chief economist, Dr. Frank Nothaft.
A reason for the low mortgage rates is the economic uncertainty brought on by the coronavirus pandemic, Zillow’s Matthew Speakman explained to MarketWatch in June. This