Buoyed by buyers wanting to beat rising mortgage rates, single-family home growth continues to move higher according to the CoreLogic Home Price Index (HPI) and HPI Forecast for April 2022, released this week.
"The record growth in home prices is a result of a scarcity of for-sale inventory coupled with eager buyers who want to purchase before mortgage rates go higher," according to the report.
In April, nationwide, it was another record-high year-over-year, marking the 123rd straight month of gains. Approximately 70% of U.S. homes sold for more than asking price this spring.
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