According to CoreLogic, a leading provider of real estate data, has released its latest Home Price Index (HPI) report, which shows that national home prices in the US are down. According to the report, national home prices decreased by 1.1% in February 2022 compared to the same month in the previous year.
The report also provides a breakdown of home price changes by state and metropolitan area. Among the states, Idaho had the highest year-over-year increase in home prices, while Michigan had the largest decrease. Among the metropolitan areas, Austin, Texas, had the highest year-over-year increase, while Honolulu, Hawaii, had the largest decrease.
Despite the overall decrease in home prices, the report notes that the housing market remains strong, with low inventory and high demand continuing to drive prices. The report also highlights the impact of the ongoing COVID-19 pandemic on the housing market, including changes in buyer preferences and behavior.
Overall, the CoreLogic Home Price Index report suggests that while national home prices may be down, the housing market remains dynamic and subject to a variety of factors that can impact prices in different ways.
To see how it compares with our area view these blog post:
Thanks for reading,
Chris
