Home price appreciation, which skyrocketed during the pandemic, is showing signs of slowing, according to a monthly report published by CoreLogic Tuesday.
In May, home prices increased by 20.2% year-over-year, the report said. But come next May, the data vendor predicts home price appreciation will dip to 5%.
The recent hikes in mortgage interest rates by the Federal Reserve has contributed to the expected cool down of home prices, according to the report.
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