Home Price Growth Slows but Remains Strong as Rates Dip
• Home prices in November saw biggest annual gain in over a year, up 5.1% according to CoreLogic Case-Shiller index • Tight supply and strong demand have kept prices rising despite higher mortgage rates • Prices up 45% since March 2020, but monthly changes show slowing momentum recently • Mortgage rates peaked in October last year, have eased since but remain much higher than 2020-2021 • Economists project rates may drift lower this year but likely to average around 6% by end of 2024