NEWS: U.S. Home Price Appreciation hits a 45 Year High in 2022

Wondering if the mortgage(s) you've been paying on your home(s) can be finally paying off? Here is some great news! 

On a recently article by Michael Gerrity on The World Property Journal, he me showcases some specific data from CoreLogic's latest CoreLogic Home Price Index where it shows a high peak on home's price appreactiation around the country. 

"In December and January, for-sale inventory continued to be the lowest we have seen in a generation," said Dr. Frank Nothaft, chief economist at CoreLogic. "Buyers have continued to bid prices up for the limited supply on the market. However, the rise in mortgage rates since January further eroded buyer affordability and is expected to slow price gains in coming months."

As the data shows, the prices of homes around the U.S. have increased more than expected. See the following Top Market Takeaways by Micheal Gerrity:

 - Nationally, home prices increased 19.1% in January 2022, compared to January 2021. On a month-over-month basis, home prices increased by 1.4% compared to December 2021.

- In January, annual appreciation of detached properties (20.3%) was 5.1 percentage points higher than that of attached properties (15.2%).

- Home price gains are projected to slow to a 3.8% annual increase by January 2023.

- January marked the second consecutive month Naples (38.9%) and Punta Gorda (38.3%), Florida, logged the highest year-over-year home price increases.

- At the state level, the Mountain West and Southern regions continued to dominate the top three spots for national home price growth, with Arizona leading the way at 28.3%. Florida ranked second with a 27.9% growth and Utah followed in third place at 25.2%.

Whether you want to continue to hold on to your property for more valuation or sell for capitalizing on the current margins, this is great news for all of the homeowners in the current market. 

Ready for your second or third home? Although the price appreciation has hit a record high, it doesn't necessarily mean that it will stop there.