March 2021 CoreLogic Home Prices: Millennials Propel Home Buying
Written by Steven Hansen
CoreLogic’s Home Price Index (HPI) home prices recorded an 11.3% annual gain, the highest since March 2006.
…. As consumer confidence rebounds and the job market picks back up, the 2021 spring homebuying season is on track to outpace trends seen in 2019 and 2018. Millennials lead the homebuying charge with older millennials seeking move-up purchases and younger millennials entering peak homebuying years. As we look towards the second half of the year, further erosion of affordability may dampen purchase demand as prospective buyers continue to compete for the severely limited supply of for-sale homes. A pick-up in construction and an increase in for-sale listings as more people get vaccinated may help moderate surging home price growth ….
Source: http://econintersect.com/pages/releases/release.php?post=202105040714
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