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April Home Prices - Largest Increase in 2 Years

Mortgage News > April Home Prices - Largest Increase in 2 Years
Date: 06/03/2020    April Home Prices - Largest Increase in 2 Years

Even as U.S. home sales slowed due to the April coronavirus shutdowns, home prices did not, according to CoreLogic. Home values jumped 5.4% annually in April, the largest gain in two years and an increase from March’s annual price gain of 4.5%. The spike in prices was fueled by a record drop in supply. With many sellers pulling their homes off the market and many more potential sellers holding off, the inventory of entry-level homes for sale dropped 25% from a year earlier. However, CoreLogic predicts that home prices will fall 1.3% by next April because of COVID-19 economic fallout. 

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