Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Home Prices Rise For the Fourth Straight Month—Which Markets Are Improving?

by Index Investing News
August 2, 2023
in Investing
Reading Time: 4 mins read
A A
0
Home Investing
Share on FacebookShare on Twitter


Home prices seem to have turned a corner. While they’re still down compared to a year ago, they’ve steadily climbed—at least month over month—since February. 

In fact, between February and May, home prices increased a full 4%, according to the CoreLogic S&P Case-Shiller Index released in July.

Will that trend continue, though? And what markets are seeing the most change in pricing? Here’s what the data tells us.

Where Home Prices Are Rising Most

From April to May, national home prices increased just 1.2%, but in some markets, the jump was much higher, especially in larger metro areas. In Cleveland, for example, prices increased 2.7% over April. Chicago and Detroit both saw 2.3% increases, while San Diego and New York were just under 2%. 

“Price gains have been strongest in Midwest pandemic-laggers—Cleveland, Chicago, Detroit—which are now the hottest housing markets,” says Selma Hepp, CoreLogic’s chief economist. 

She’s right: The turnaround for these cities has been notable. In Cleveland, the average monthly price increase was just 1.4% in pre-pandemic days, while Chicago and Detroit’s average jumps were even lower (Detroit’s monthly increase has actually quadrupled since then). 

Price appreciation this May compared to pre-pandemic averages during May (2015-2019, 2023) – CoreLogic

To be clear: It’s not just these three markets seeing changes. All 20 of the biggest metros saw month-over-month price jumps in May. Other cities that saw bigger increases than the national average included Seattle, Minneapolis, Dallas, and Washington, D.C. Below is the list of all 20 markets and their YoY changes.

Year-over-year change in home prices (April 2023 - May 2023) - CoreLogic
Year-over-year change in home prices (April 2023 – May 2023) – CoreLogic

Some of these spots even experienced year-over-year increases—and significant ones, too. In Chicago, for instance, home prices have climbed 4.6% in the last year, and in Cleveland, it was nearly 4%.

Looking Ahead at Home Prices

It’s clear that prices are rising—and quite a bit in some parts of the country. The question is whether those price trends will continue as the year goes on. 

According to CoreLogic, they likely won’t. In fact, the monthly gains have slowed slightly since beginning in February, which could indicate those increases may plateau in the near future, the data firm reports.

“Elevated mortgage rates and high home prices are putting pressure on potential buyers,” Hepp says in a press release. “These dynamics are cooling recent month-over-month home price growth, which began to taper and is returning to the pre-pandemic average.”

This leveling off seems even more likely as mortgage rates continue to surge. The current average rate on 30-year mortgage loans is now above 7%, according to Mortgage News Daily.

“The rest of 2023’s housing market activity will continue to depend on mortgage rates and the availability of for-sale homes, with neither likely improving for potential buyers in the near future,” Hepp says. “As a result, 2023 homebuying activity may end up being the slowest in about a decade.”

Get the Best Funding

Quickly find and compare investor-friendly lenders who specialize in your unique investing strategy. It’s fast, free, and easier than ever!

find a lender with lender match

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.



Source link

Tags: fourthhomeImprovingMarketsMonthWhichPricesrisestraight
ShareTweetShareShare
Previous Post

30 Best Passive Income Ideas

Next Post

KAS Advances after Exceeding Its $0.042 Top Price

Related Posts

Learn how to Maintain Tariffs from Derailing Your Renovations (Rookie Reply)

Learn how to Maintain Tariffs from Derailing Your Renovations (Rookie Reply)

by Index Investing News
May 23, 2025
0

The financial panorama is shifting quick. With tariffs driving up materials prices, does the BRRRR (purchase, rehab, hire, refinance, repeat)...

If No One Follows the 4% Rule, What IS the Proper Withdrawal Price?

If No One Follows the 4% Rule, What IS the Proper Withdrawal Price?

by Index Investing News
May 23, 2025
0

Most individuals assume the “protected withdrawal charge” for retirement (or early retirement) is 4%. However, if that’s the case, why...

98% of Housing Markets “Weaker” Than Final 12 months: Good Information for Traders?

98% of Housing Markets “Weaker” Than Final 12 months: Good Information for Traders?

by Index Investing News
May 22, 2025
0

The Downgrade Is Achieved. The Investor Response Is Simply Starting

The Downgrade Is Achieved. The Investor Response Is Simply Starting

by Index Investing News
May 22, 2025
0

For world traders and institutional asset managers, Moody’s downgrade of US sovereign debt is greater than a symbolic sign —...

No 401(okay)? No Downside—Sensible Retirement Methods for the Self-Employed

No 401(okay)? No Downside—Sensible Retirement Methods for the Self-Employed

by Index Investing News
May 22, 2025
0

Next Post
KAS Advances after Exceeding Its alt=

KAS Advances after Exceeding Its $0.042 Top Price

How To Start A Side Hustle In 10 Steps

How To Start A Side Hustle In 10 Steps

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

It’s Time to Name “Inflation” By Its Actual Identify: Theft – Funding Watch

It’s Time to Name “Inflation” By Its Actual Identify: Theft – Funding Watch

May 7, 2022
Ex-UK PM Tony Blair Debunks The Crown Season 5 Scenes As ‘Rubbish’ – Deadline

Ex-UK PM Tony Blair Debunks The Crown Season 5 Scenes As ‘Rubbish’ – Deadline

November 6, 2022
 Million in Real Estate in 2 YEARS Thanks to This Strange Side Hustle

$2 Million in Real Estate in 2 YEARS Thanks to This Strange Side Hustle

June 14, 2023
Maintain or Promote, Maxing Out on Mortgages, and Investor FOMO

Maintain or Promote, Maxing Out on Mortgages, and Investor FOMO

May 1, 2022
Egypt is snubbing the US — so why has Biden come to its rescue?

Egypt is snubbing the US — so why has Biden come to its rescue?

September 14, 2024
The New Rise of Organized Shoplifting

The New Rise of Organized Shoplifting

October 24, 2023
UFC Hall of Famer Mark Coleman givs update from hospital bed

UFC Hall of Famer Mark Coleman givs update from hospital bed

March 15, 2024
A vote for One Nation, One Election agenda

A vote for One Nation, One Election agenda

September 12, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In