Home Price increases Begin to Slow Down
Good News! Multiple indexes, including S&P CoreLogic Case-Shiller indices and the Federal Housing Finance Agency’s House Price Index show increasing pries of home beginning to slow down. All of the indices saw a 0.9-point deceleration throughout April 2022, which broke a yearlong trend of steady increases. Cities in southern states like Dallas, Miami, and Tampa have seen the highest year-over-year gains property prices.
This is another welcome reprieve from price increases over the past year, which was caused by a historically low inventory of property, especially in comparison to the demand. As a result of this, despite the recent cooldowns, the market is still expected to finish the year in the double digits.
Keeping you up to date on important news on the market and with loans is important for Jet Direct Mortgage. If you’re looking into buying a home, head to Mortgage Lender | Mortgage Broker | VA USDA Loan (jetdirectmortgage.com) to learn more!