Currently Reading

Home Prices Reach Record High

Sales + Marketing Trends

Home Prices Reach Record High

Ongoing affordability challenges within the supply-constricted market have also been exacerbated by an influx in home buying activity from investors.

October 5, 2021
Houses perched on ascending arrows

Home prices nationally increased 18.1% in August compared with the 2020 month, setting the largest 12-month growth since CoreLogic started its Home Price Index in 1976.

Consistent with other recent industry observers' reports, CoreLogic expects gains to slow to a 2.2% increase by August 2022. But ongoing affordability challenges will continue to deter entry-level buyers. 

Ongoing affordability challenges within the supply-constricted market have also been exacerbated by an influx in home buying activity from investors. As the home purchase market continues to boom and buoy the post-pandemic economy, these market factors are unevenly affecting access for some buyers. This is reflected in a recent CoreLogic consumer survey, where 59% of consumers looking to purchase a home reported combined household earnings of at least six figures, compared to the 10% of consumers looking to purchase earning less than $50,000.

“Home prices continue to escalate at a torrid pace as a broad spectrum of buyers drive demand for a limited supply of homes,” said Frank Martell, president and CEO of CoreLogic. “We expect to see the trend of strong price gains continue indefinitely with large amounts of capital chasing too few assets.”

To see CoreLogic charts that deem which metro markets are overvalued and which ones are at the risk of home price decline ...

Read More

Related Stories

Remodeling Sales + Marketing

Home Flippers Could Play a Small Role in Solving the U.S. Housing Crisis

Property rehab companies are keeping a steady stream of supply on the market by making old homes desirable once more


Housing Markets

California Home Prices Jump to New Highs

The Golden State just got even pricier—here are the regions reporting the largest gains

New-Home Sales

Home-Price Growth Is Slowing, But Buyers Are Still Upping Their Budgets

Record home prices may be losing steam, but buyers can still expect more gains in 2022


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.