CoreLogic®, a leading global property information, analytics and data-enabled solution provider released today (1-5-21) the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for November 2020. Year-over-year nationally home prices increased 8.2% (November 2019 – November 2020), the largest annual appreciation since March 2014. On a month-over-month basis, home prices increased by 1.1% when compared to October 2020. According to the report home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to register above 2019 levels. However, the availability of homes for sale has dwindled as demand increased and COVID-19 outbreaks continued across the country, which has delayed some sellers from putting their homes on the market. In prepared remarks for the HPI release Frank Martell, president and CEO of CoreLogic said, “The housing market performed remarkably well in 2020 despite the volatile economic state. While we can expect to see lingering effects of COVID-19 resurgences and subsequent shutdowns in the early months of 2021, vaccine distributions and stimulus actions should revitalize economic activity and keep home purchase demand and home price growth strong.”
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Quickening the Pace Despite Economic Rough Patches: Annual U.S. Home Price Appreciation Jumped to 8.2% in November, CoreLogic Reports