Core Logic just released the March update for Home Price Insights and they have some compelling stats that I wanted to share with you all.
Here are the highlights:
"Home prices nationwide, including distressed sales, increased year over year by 11.3% in March 2021 compared with March 2020 and increased month over month by 2% in March 2021 compared with February 2021. This is the highest recorded annaul growth since March 2006."
Corelogic Forecasts remain conservative predicting a year over year appreciation basis of 3.5% from March 2021 to March 2022.
"The 2021 spring homebuying season is on track to outpace trends seen in 2019 and 2018. Millennials lead the homebuying charge with older millennials seeking move-up purchases and younger millennials entering peak homebuying years.
No states posted an annual decline in home prices. The states with the highest increases year-over-year were Idaho (25%), Montana (18.8%), and Arizona (18%). Colorado comes in at 12%.
The Denver Metro is the 3rd ranked City in price increases Year Over Year.