US Home Prices , Rose by Over 19%, in August.
In August, home prices in the United States
jumped by a near-record amount
from just a year earlier.
ABC News reports
that the change comes
as a result of demand for
homes driving up prices.
The S&P CoreLogic Case-Shiller tracks home prices in 20 cities across the U.S. .
Home prices climbed 19.7%
in August compared to
the same time in 2020. .
In July, that increase was 20% and the
largest gain on record going back to 2000.
Home prices have now reached all-time
highs in each of the 20 cities tracked by the index. .
ABC News reports that there are signs that the price gains of the past year may be slowing down.
The slowing acceleration in home
prices suggests that buyer fatigue
is setting in, particularly
among higher-priced homes, Selma Hepp, CoreLogic Deputy Chief Economist, via ABC News.
According to mortgage-buyer Freddie Mac, mortgage rates climbed to 3.1% in the last week, the highest they've been since April.
In September, sales
of existing homes
reportedly jumped 7%.
There were also just 1.27 million houses
on the market, down 13% from 2020.
According to the National Association
of Realtors, homes are selling in about
17 days after hitting the market.
In September, 86% of homes sold were
on the market for under 30 days