Inventory is climbing and home price growth is slowing. But demand is also falling

Lakeland, Florida, now has the largest surplus, with 43% more homes for sale in April than it averaged from 2017 to 2019, according to ICE. Austin was next at 29% and San Antonio came in third at 27%.

By contrast, the Connecticut metros of

Annual home price gains continued to cool in April, marking the second consecutive month of pullbacks. Annual price gains of 6.1% in February slowed to revised growth of 5.7% in March and eased to to 5.1% in April, according to an ICE Mortgage Technology report released Monday.

That’s the good news.

If adjusted monthly gains were to continue at the current pace of 0.28% per month, the annual growth rate metric would fall below 4.25% in June, with home prices seeing year-over-year gains of less than 4% by July, Andy Walden, ICE Mortgage Technology’s vice president of enterprise research strategy, details ⇒

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