According to CoreLogic the latest U.S. real estate data released on June 5 shows that the U.S. real estate market continues to rise. From April 2018 to April 2019, the average year-on-year increase in housing prices across the United States was 3.6%; while the month-on-month increase from April 2019 to March 2019 was 1.0%.
At the same time, the housing price index predicts that from April 2019 to April 2020, housing prices across the United States are expected to increase by 4.7%. However, housing prices in May 2019 are expected to decrease by 0.3% compared to April 2019.
In the past year, Idaho has seen the largest increase among all states, reaching 10.3%; followed by Utah and South Dakota, with an increase of 7.8%.
"The increase in home sales from March to April helps offset the recent slowdown in annual price growth," said Dr. Frank Nothaft, Chief Economist at CoreLogic. "Mortgage rates are 0.6% lower than a year ago, and rising incomes have improved buyer affordability. However, the price growth of lower-priced homes remains high, limiting options for first-time homebuyers."
"According to our consumer survey, buyers feel that high prices force them to spend more than they expected," said Frank Martell, Chairman and CEO of CoreLogic. "As many as one-third of buyers believe they also paid a higher down payment."