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Breaking Down The Details on Huge Home Price Appreciation ; Potentially Big Day For Rates Tomorrow

Breaking Down The Details on Huge Home Price Appreciation ; Potentially Big Day For Rates Tomorrow

CoreLogic says that demand for homebuying remained strong through the end of summer. Along with the ongoing shortage of available homes, demand drove the annual price increase for September to 18 percent. Prices rose 1.1 percent compared to August. The company says record high prices are creating additional challenges for entry into the homebuying market. "High demand and low supply levels for entry-level homes, in particular, are sidelining many would-be first-time buyers." Detached properties continue to appreciate at a much higher rate than do those that are attached . The annual increase for detached properties in September was 19.6 percent, 7.4 percentage points higher than for attached homes. "The pandemic led prospective buyers to seek detached homes in communities with lower population
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