The end of the second quarter of 2019 marked 32 consecutive months of home price growth, Forbes reports.
According to the House Price Index released by the Federal Housing Finance Agency this morning, home prices are up 5% from the second quarter of last year, marking nearly three full years of steady growth. It’s now the longest streak of home price jumps since 2009.
At the state level, home prices have jumped in all 50 states, as well as the District of Columbia. Prices rose the most in Idaho, where residents saw an increase of 11.4% over the year, and Utah, where prices increased 7.7%. Tennessee, Georgia and Arizona rounded out the top five in terms of home price growth.
There is a silver lining, though. The uptick isn’t as large as in previous months, and in fact, marks the 15th consecutive month and the fifth quarter that the growth rate has slowed. As Lynn Fisher, senior advisor for economic at FHFA, explains, waning home sales have much to do with it.