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What’s Going On With Home Prices?

According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year.

CoreLogic’s Chief Economist Frank Nothaft gave some insight into this change,

“The rise in mortgage rates this summer to their highest level in seven years has made it more difficult for potential buyers to afford a home. The slackening in demand is reflected in the slowing of national appreciation, as illustrated in the CoreLogic Home Price Index.  

National appreciation in August was the slowest in nearly two years, and we expect appreciation to slow further in the coming year.”

One of the major factors that has driven prices to accelerate at a pace of between 6-7% over the past two years was the lack of inventory available for sale in many areas of the country. This made houses a prized commodity which forced many buyers into bidding wars and drove prices even higher.

According to the National Association of Realtors’ (NAR) latest Existing Home Sales Report, we are starting to see more inventorycome to market over the last few months. This, paired with patient buyers who are willing to wait to find the right homes, is creating a natural environment for price growth to slow.

Historically, prices appreciated at a rate of 3.7% (from 1987-1999). CoreLogic predicts that prices will continue to rise over the next year at a rate of 4.7%.

Bottom Line

As the housing market moves closer to a ‘normal market’ with more inventory for buyers to choose from, home prices will start to appreciate at a more ‘normal’ level, and that’s ok! If you are curious about home prices in your area, let’s get together to chat about what’s going on!


If you’re interested in purchasing or selling a home you can start by Contacting Us directly or start searching for your new home here Anthem, Desert Hills, New River, Phoenix, Mesa, Scottsdale, Tempe, Glendale or Surprise.

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The 411 On Anthem

Building Started in 1999 and Anthem quickly became the place to be. Located about 30 miles north of Phoenix, and developed by Del Webb in order to create a blend of residential and business communities, all within these beautiful rolling foothills of Gavilan Peak.

Residence options in the Country Club, Parkside, Villages, The Landings, Paseo and Arroyo Grande offer different community options. All in addition to the numerous parks, clubhouses and two championship 18-hole golf courses.

Looking for a Parkside Floor-plan?

Anthem Floor Plans

Anthem Arizona Floor Plans Looking for that perfect home and want to see how it looks on paper? We have collected over our 10 years selling Anthem, Arizona many of the floor plans … (read more)

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Anthem Country Club Floor Plans

AllAboutAnthem.com has arguably the largest and most complete listings of Anthem Arizona Floor Plans out there.  With 10 years selling Anthem, we have you covered. The Anthem

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