RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

Annual Home-Price Growth Continues Single-Digit Slowdown in January

Home Agents
By RISMedia Staff
March 9, 2023
Reading Time: 2 mins read
Annual Home-Price Growth Continues Single-Digit Slowdown in January

Home prices continued their gradual free fall in January, with the 5.5% annual gain down for the ninth straight month and the lowest recorded since June 2020, according to a new report from CoreLogic.

CoreLogic’s Home Price Index for January found that price deceleration was particularly noticeable in the Western U.S. and other states and metro areas that saw substantial appreciation over the past few years. Three Northwestern states (along with Washington, D.C.) posted at least slight annual declines as migration patterns that began during the pandemic shifted, slowing demand and driving price decreases.  

Key highlights:

  • On a month-over-month basis, home prices declined by 0.2% compared to December 2022.  
  • The annual appreciation of attached properties (6.5%) was 1.3 percentage points higher than that of detached properties (5.2%).  
  • CoreLogic forecasts show annual U.S. home price gains slowing to 3.1% by January 2024.  
  • Miami posted the highest year-over-year home price increase of the country’s 20 largest metro areas in January, at 17.3%, while Tampa, Florida continued to rank second at 11.7%.  
  • Florida and Maine recorded the highest annual home price gains, 13.4% and 11.5%, respectively. South Carolina posted the third-highest gain, with a 10.7% year-over-year increase. 
  • Three states and one district registered year-over-year price declines: Idaho (-2.3%), Washington (-2.2%), Montana (-0.6%) and Washington, D.C. (-0.1%). 

Major takeaway:

“While 2023 kicked off on a more optimistic note for the U.S. housing market, recent mortgage rate volatility highlights how much uncertainty remains,” said Selma Hepp, chief economist at CoreLogic. “Nevertheless, the continued shortage of for-sale homes is likely to keep price declines modest, which are projected to top out at 3% peak to trough.”  

“Home price depreciation and strong income growth are expected to boost affordability, which is particularly important for first-time buyers,” Hepp continued. “This group has accounted for a higher share of mortgage applications since last summer, as first-time buyers don’t need to surrender an extremely low mortgage rate like current homeowners.” 

For the full report, click here.

Tags: CoreLogicHome Price GainsHome Price IndexHome PricesHousing Markethousing recessionMedian Home Prices
ShareTweetShare

RISMedia Staff

Related Posts

FHFA Director Compares Potential Cuts to GSEs to DOGE
Industry News

FHFA Director Compares Potential Cuts to GSEs to DOGE

May 19, 2025
ERA Key Realty’s Team Blue Is Breaking Records in Boston
Industry News

ERA Key Realty’s Team Blue Is Breaking Records in Boston

May 19, 2025
PropStream to Exhibit at ‘Property Challenge Live’ in Atlanta June 6-7
Industry News

PropStream to Exhibit at ‘Property Challenge Live’ in Atlanta June 6-7

May 19, 2025
Buffini & Company Launches AI Bootcamp Led by Industry Icon Michael Thorne
Agents

Buffini & Company Launches AI Bootcamp Led by Industry Icon Michael Thorne

May 19, 2025
Louisiana
Industry News

Louisiana Legislation Would Change Buyer Agreement Requirements

May 19, 2025
Williams
Economy

New York Fed President Says Housing Affordability ‘Number One Issue’ for Economy

May 19, 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

Don’t Get Greedy as a Team Leader

Too often, team leaders make the mistake of taking 50% of their agent's self-gen business. Here's what you should do instead. Watch now.

Business Tip of the Day provided by

Recent Posts

  • FHFA Director Compares Potential Cuts to GSEs to DOGE
  • ERA Key Realty’s Team Blue Is Breaking Records in Boston
  • PropStream to Exhibit at ‘Property Challenge Live’ in Atlanta June 6-7

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2025 Newsmakers
    • 2024 Newsmakers
    • 2023 Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2025 Power Broker
    • 2024 Power Broker
    • 2023 Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X