Posted To: MND NewsWire
CoreLogic report for May is yet another reporting home prices are still moving higher. May’s year-over-year appreciation of 15.4 percent was the highest since 2005. On a monthly basis the April to May gain was 2.3 percent. Detached properties appreciated at a rate of 17.2 percent, nearly double the 9.1 percent rate for attached properties as prospective buyers continue to seek out more space. The company says that many millennials and Gen Z home buyers are continuing to move into the hot market thanks to low borrowing rates, but high prices are likely deterring increasing numbers of prospective buyers – especially first-time and low-income families. Currently, 82 percent of consumers called housing affordability a key problem in a recent CoreLogic survey and 33 percent noted they would wait…(read more)
Source: Mortgage News Daily
