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Home prices at 45-year high, pricing many buyers out of the market

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(Worthy News) – Home prices are at a 45-year high, pricing many buyers out of an historic seller’s market, new data published by CoreLogic show.

Annual home prices were 18% higher in October of this year than they were last October, and were also the highest recorded in the 45-year history of a Home Price Index published by the global property company.

“New household formation, investor purchases and pandemic-related factors driving demand for the limited supply of available for-sale homes continues to propel the upward spiral of U.S. home prices,” Frank Martell, president and CEO of CoreLogic, said in a statement accompanying the report’s findings. “However, we expect home price growth to moderate over the near term as many buyers take a break for the holidays.” [ Source: Just the News (Read More…) ]

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