Despite slight year-over-year growth, home prices increased by just 0.02% in October on a month-over-month basis
Dec. 4, 2024
Andy Dean / stock.adobe.com
Home price growth slowed during October.
Home price growth stagnated in the latter half of the year, with recent data from housing market data provider CoreLogic showing home prices grew by just 3.4% year-over-year as of October. Compared with September, home prices grew by 0.02%. However, some regions experienced more price growth than others: The Northeast stood out, in particular, with New Jersey, Rhode Island, and New Hampshire leading year-over-year price increases. In these states, prices grew by 8.1%, 7.5%, and 6.3%, respectively.
Despite the price declines seen in certain areas of the country, overall national price growth is expected to continue at a muted pace. Still, forecasts suggest that national single-family home prices will reach a new peak level in April 2025. Currently, the median sales price for all single-family homes in the U.S. is $385,000.Read more
