Home Price Appreciation Hits Record high (Again)

By
Mortgage and Lending with HomeBridge Financial Services (NJ) NMLS 248937

Home Price Appreciation Hits Another Record High

The Case-Shiller Home Price Index, considered the “gold standard” for appreciation, showed home prices rose 1.6% in July and 20% year over year. This annual reading set another record high, beating June’s 18.6% record.

The Federal Housing Finance Agency (FHFA) also released their House Price Index, which measures home price appreciation on single-family homes with conforming loan amounts. While you can have a million-dollar home with a conforming loan amount, the report most likely represents lower-priced homes, where supply has been tight and demand strong.

Home prices rose 1.4% in July, and they were also up 19% year over year. This is the first time in recent memory that we have seen FHFA’s data below Case Shiller’s.

This dynamic shift could mark the peak of year-over-year appreciation gains. While monthly appreciation gains are still expected to occur, they could start to slow, making the year-over-year figures start to come down a bit. It’s important to note this does not mean home prices are expected to decline because there is still too big of a crop of homebuyers for too few homes. But the pace of gains could slow.

 

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Robert Rauf 
Mortgage Loan Originator NMLS# 248937
http://www.homebridge.com/RobertRauf 
or my blog: http://activerain.com/blogs/rrauf 
Office: (732)908-4868  Cell (732)740-0175 

RRauf@HomeBridge.com 
www.RobertRauf.com
 
 

Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 9 Grand Ave, Building 2 Suite A Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.Homebridge.com or www.RobertRauf.com for more information. NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ 08753, Toms River NJ 08755, Brick NJ 08723, Brick NJ 08724 Mortgage in Ocean County NJ, Mortgage in Monmouth County NJ, Jackson NJ 08527, Howell NJ 07731, Lacey 08731 08734, Beachwood 08722 Bayville 08721, 

Comments (7)

Raymond Henson, eXp Realty
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

It is amazing what we have seen in appreciation over the last few years.  A few clients of mine purchased homes a few years ago with 3.5% down.  They are very happy with their returns.

Oct 05, 2021 08:59 AM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Raymond Henson, eXp Realty  and it is likely to continue in most markets, but it should settle down to a more sustainable pace

Oct 05, 2021 09:16 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Robert, I think many cities are experiencing this and hopefully it will slow down or the first time buyers will for sure get priced out of the market.

Oct 05, 2021 11:22 AM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Joan Cox It truly is a national move, and the numbers in my blog are national.  I think it is only urban areas that may be lagging behind.  It will likely continue but return to a more "normal" appreciation

Oct 05, 2021 01:10 PM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good evening Robert! One thing for sure, a lot of inflation these last 16 months

Oct 05, 2021 07:16 PM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

 

Rocky Dickerson That is SO true, and it isn't likely to stop anytime soon... but at least there is some sign of it calming down a bit.

Oct 08, 2021 02:44 PM
Kristin Johnston - REALTOR®
RE/MAX Realty Center 262-567-2455 - Waukesha, WI
Giving Back With Each Home Sold!

Great information.   Thanks for sharing and have a wonderful day!

Nov 12, 2021 07:07 AM