The nation saw 5.4% annual price growth in October, though CoreLogic predicts growth could slow to 4.8% by next year.
Sorry, buyers: home prices are still on the rise and will continue to grow into next year, according to a CoreLogic Home Price Index and Forecast released on Tuesday. However, the rate of growth is slowing down.
In October, home prices nationwide rose 5.4 percent year-over-year and 0.5 percent from September, according to the analysis. The average price of a single-family has, according to some estimates, has now reached $285,700.
Ever since 2012, inventory shortages and high demand have created a nationwide trend that makes it a great time to be a seller and a bad time to be a buyer — many homeowners have been holding off on selling in the hopes that their property will grow by more.
However, according to CoreLogic, a slowdown is on the horizon — home prices are only estimated to increase by 4.8 percent between now and September 2019. What’s more, October was the fourth consecutive month in which home price growth was below 6 percent year-over-year — in the summer, they grew by 6.2 percent.
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