The dizzying gains in home prices seen earlier this year may have peaked, according to data from HouseCanary. That doesn’t mean it’s bargain-basement time.
The median listing price increased 7% in August’s last week from a year earlier, compared with a 16% annualized gain in May, according to a HouseCanary report. The median price for sales grew 17%, down from a 31% year-over-year increase in May.
“The nationwide supply shortage continues to dominate the current market dynamics, but there are signs that list price growth is slowing,” the report said.
Think simmer, instead of a rolling boil, said Daniel Roccato, a professor of finance at the University of San Diego and a money coach at Credible. Prices are still rising. Just not at the record pace seen earlier in 2021.