PRESENTING: Home prices are set to plummet in the next year on the new coronavirus spike — here's how much and which markets are most at risk
While home prices went up in May, the US
According to CoreLogic's Home Price Index, national home prices in May increased by 4.8% compared to May 2019 and 0.7% compared to the month before. CoreLogic attributed these increases to the strong pre-pandemic market and the pent-up buyer demand that flooded the market at the end of spring and beginning of summer.
However, CoreLogic sees the reality of a long-lived recession sinking in among homebuyers along with a spike in reported coronavirus cases, and predicts that June data will show a 0.1% month-over-month price decline, which will accelerate after that.
Subscribe now to read our piece on how much national home prices will drop from May 2020 to May 2021:
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