CoreLogic: US Home Prices Increased 3.4% Year-over-year in December
Notes: This CoreLogic House Price Index report is for December. The recent Case-Shiller index release was for November. The CoreLogic HPI is a three-month weighted average and is not seasonally adjusted (NSA). From CoreLogic: CoreLogic: Home Price Growth Ticks Up Slightly in December • The national home price gain was 3.4% year over year in November 2024, down from the 5.2% growth recorded in the same month of 2023. • The national home price gain was 3.4% year over year in December 2024, down from the 5.6% growth recorded in the final month of 2023. • Home prices are projected to rise by 4.1% annually by December 2025. • Northeastern states again showed strong annual price appreciation in December. ... U.S. home price gains showed a slight marginal uptick to 3.4% year over year in December, though the uptick mostly reflects weak 2023 year-end. Otherwise, home price appreciation has been almost flat since the typically busy fall selling season began in September. ... “Home prices have remained flat since the housing market began seeing slower activity this past summer," said CoreLogic Chief Economist Dr. Selma Hepp. "Bifurcation across markets has also persisted. Northeastern markets drove appreciation growth due to low inventories of homes for sale while Southern markets readjusted to higher inventories and increases in variable mortgage costs, such as taxes and insurance. Home prices are also cooling in the markets in Mountain West, which have been trying to find stability over the last year following the surge in mortgage rates and price declines from pandemic highs. Despite the difficult housing markets conditions in 2024, home prices increased about 4.5% over the course of the year, a small jump compared to the 4.1% uptick in 2023. Going forward, with inventories slowing improving and mortgage rates remaining elevated, forecasts suggest a smaller overall increase in prices in 2025.” emphasis added This was the same YoY increase as reported for November. This map is from the report. Nationally, home prices increased by 3.4% year over year in December. The state of Hawaii and the District of Colombia both posted annual home price declines of -1.1% and -0.7%, respectively. The states with the highest increases year over year were Connecticut (up by 7.8%) and New Jersey (up by 7.7%).
Notes: This CoreLogic House Price Index report is for December. The recent Case-Shiller index release was for November. The CoreLogic HPI is a three-month weighted average and is not seasonally adjusted (NSA).
From CoreLogic: CoreLogic: Home Price Growth Ticks Up Slightly in December
This map is from the report.
From CoreLogic: CoreLogic: Home Price Growth Ticks Up Slightly in December
• The national home price gain was 3.4% year over year in November 2024, down from the 5.2% growth recorded in the same month of 2023.This was the same YoY increase as reported for November.
• The national home price gain was 3.4% year over year in December 2024, down from the 5.6% growth recorded in the final month of 2023.
• Home prices are projected to rise by 4.1% annually by December 2025.
• Northeastern states again showed strong annual price appreciation in December.
...
U.S. home price gains showed a slight marginal uptick to 3.4% year over year in December, though the uptick mostly reflects weak 2023 year-end. Otherwise, home price appreciation has been almost flat since the typically busy fall selling season began in September. ...
“Home prices have remained flat since the housing market began seeing slower activity this past summer," said CoreLogic Chief Economist Dr. Selma Hepp. "Bifurcation across markets has also persisted. Northeastern markets drove appreciation growth due to low inventories of homes for sale while Southern markets readjusted to higher inventories and increases in variable mortgage costs, such as taxes and insurance. Home prices are also cooling in the markets in Mountain West, which have been trying to find stability over the last year following the surge in mortgage rates and price declines from pandemic highs. Despite the difficult housing markets conditions in 2024, home prices increased about 4.5% over the course of the year, a small jump compared to the 4.1% uptick in 2023. Going forward, with inventories slowing improving and mortgage rates remaining elevated, forecasts suggest a smaller overall increase in prices in 2025.”
emphasis added
This map is from the report.
Nationally, home prices increased by 3.4% year over year in December. The state of Hawaii and the District of Colombia both posted annual home price declines of -1.1% and -0.7%, respectively. The states with the highest increases year over year were Connecticut (up by 7.8%) and New Jersey (up by 7.7%).
