Home prices decelerated in April, with annual growth slowing to 5.1% from 6.1% in February, and purchase demand down 45% from 2018-19 levels.
Home prices cooled for the second consecutive month in April, according to the ICE Home Price Index, with annual growth slowing to 5.1% from 6.1% in February. Unadjusted monthly gains dipped below the 25-year average, and purchase demand has decreased by 45% compared to 2018 and 2019 levels. Inventory has been gradually improving in the higher interest rate environment, with nearly 90% of US metropolitan areas having more homes for sale than at the same point last year.
June 03, 2024
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