CoreLogic Says Annual Home Price Appreciation Up 18.5% in December
According to the latest CoreLogic Home Price Index, price appreciation averaged 15% for 2021, up from 2020’s full year average of 6%. They point that home price growth started off 2021 at 10% in Q1, steadily increasing and ending the year with an increase of 18% by Q4. CoreLogic says that homeownership demand ran up against persistently low supply of for-sale homes, which in turn created one of the hottest housing markets in decades. However, they do predict that in 2022, price gains will start above 10%, but slow to 3.5% by the end of the year. Indeed…
“Much of what we’ve seen in the run-up of home prices over the last year has been the result of a perfect storm of supply and demand pressures,” said Dr. Frank Nothaft, chief economist at CoreLogic. “
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