National House Prices Stabilize After Nine-Month Slowdown, According to First American Data & Analytics Monthly Home Price Index Report
First American Data & Analytics released its October 2024 Home Price Index (HPI) report, revealing a stabilization in national house prices after nine months of slowdown. The report shows a -0.05% month-over-month change and a +3.8% year-over-year increase in house prices. House prices are now 54.2% higher compared to pre-pandemic levels.
Among metropolitan areas, Anaheim, California led with a 7.0% year-over-year increase, followed by Cambridge, Massachusetts (5.7%), and Washington (5.6%). Notable decreases were observed in Tampa (-1.5%), Oakland (-1.2%), and Orlando (-0.5%). In the starter home tier, Nassau County, NY showed the strongest growth at +8.9%.
First American Data & Analytics ha pubblicato il suo rapporto sull'indice dei prezzi delle case (HPI) di ottobre 2024, rivelando una stabilizzazione dei prezzi delle case a livello nazionale dopo nove mesi di rallentamento. Il rapporto mostra un cambiamento mensile dello -0,05% e un incremento del +3,8% rispetto all'anno precedente nei prezzi delle case. I prezzi delle case sono ora superiori del 54,2% rispetto ai livelli pre-pandemia.
Tra le aree metropolitane, Anaheim, California, ha guidato con un aumento del 7,0% rispetto all'anno precedente, seguita da Cambridge, Massachusetts (5,7%) e Washington (5,6%). Diminuzioni significative sono state osservate a Tampa (-1,5%), Oakland (-1,2%) e Orlando (-0,5%). Nel segmento delle prime case, la contea di Nassau, NY, ha mostrato la crescita più forte con un +8,9%.
First American Data & Analytics publicó su informe del Índice de Precios de Viviendas (HPI) de octubre de 2024, revelando una estabilización en los precios de las viviendas a nivel nacional tras nueve meses de desaceleración. El informe muestra un cambio mensual de -0,05% y un aumento del +3,8% en comparación con el año anterior en los precios de las viviendas. Los precios de las viviendas son ahora un 54,2% más altos en comparación con los niveles previos a la pandemia.
Entre las áreas metropolitanas, Anaheim, California, lideró con un aumento del 7,0% en comparación con el año anterior, seguida de Cambridge, Massachusetts (5,7%) y Washington (5,6%). Se observaron disminuciones notables en Tampa (-1,5%), Oakland (-1,2%) y Orlando (-0,5%). En el segmento de viviendas iniciales, el condado de Nassau, NY, mostró el crecimiento más fuerte con un +8,9%.
퍼스트 아메리칸 데이터 & 애널리틱스는 2024년 10월 주택 가격 지수(HPI) 보고서를 발표하며, 9개월의 둔화 이후 국가 주택 가격이 안정세를 보이고 있음을 밝혔습니다. 보고서에 따르면, 월간 변동률은 -0.05%이며, 연간 기준으로는 주택 가격이 +3.8% 증가했습니다. 주택 가격은 이제 팬데믹 이전 수준보다 54.2% 높습니다.
대도시 지역 중에서 캘리포니아 애너하임이 연간 기준으로 7.0% 증가하며 선두를 차지했습니다, 그 뒤를 이어 매사추세츠주 캠브리지(5.7%), 워싱턴(5.6%)이 있습니다. 탬파(-1.5%), 오클랜드(-1.2%), 올랜도(-0.5%)에서 값의 감소가 관찰되었습니다. 스타터 홈 계층에서는 뉴욕 나소 카운티가 +8.9%로 가장 강한 성장을 보였습니다.
First American Data & Analytics a publié son rapport sur l'indice des prix des maisons (HPI) d'octobre 2024, révélant une stabilisation des prix des logements au niveau national après neuf mois de ralentissement. Le rapport montre une variation mensuelle de -0,05% et une augmentation annuelle de +3,8% des prix des maisons. Les prix des maisons sont désormais supérieurs de 54,2% par rapport aux niveaux d'avant la pandémie.
Parmi les zones métropolitaines, Anaheim, Californie, a enregistré la plus forte augmentation avec 7,0% par rapport à l'année précédente, suivie de Cambridge, Massachusetts (5,7%) et Washington (5,6%). Des baisses notables ont été observées à Tampa (-1,5%), Oakland (-1,2%) et Orlando (-0,5%). Dans la catégorie des premières maisons, le comté de Nassau, NY, a montré la plus forte croissance avec +8,9%.
First American Data & Analytics hat seinen Bericht über den Hauspreisindex (HPI) für Oktober 2024 veröffentlicht, der eine Stabilisierung der nationalen Hauspreise nach neun Monaten Rückgang zeigt. Der Bericht zeigt eine Veränderung von -0,05% im Monatsvergleich und einen Anstieg von +3,8% im Jahresvergleich bei den Hauspreisen. Die Hauspreise liegen jetzt um 54,2% über dem Niveau vor der Pandemie.
Unter den Metropolregionen führte Anaheim, Kalifornien mit einem Anstieg von 7,0% im Jahresvergleich, gefolgt von Cambridge, Massachusetts (5,7%) und Washington (5,6%). Bemerkenswerte Rückgänge wurden in Tampa (-1,5%), Oakland (-1,2%) und Orlando (-0,5%) beobachtet. Im Segment der Einstiegswohnungen verzeichnete der Nassau County, NY das stärkste Wachstum mit +8,9%.
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—House Price Growth Nationally Likely to End the Year Not Too Hot, Not Too Cold, says Chief Economist Mark Fleming—
October1 National House Price Index
First American Data & Analytics’ National Non-Seasonally Adjusted (NSA) HPI |
|
Metric |
Change in HPI |
September-October 2024 (month over month) |
-0.05 percent |
October 2023-October 2024 (year over year) |
+3.8 percent |
Highlights
- House prices nationally are now 54.2 percent higher compared to pre-pandemic levels (February 2020).
- House price growth reported in last month’s HPI for August 2024 to September 2024 was revised down 0.08 percentage points, from +0.1 percent to +0.02 percent.
Chief Economist Analysis:
“National annual house price appreciation stabilized in October, ending a nine-month streak of annual deceleration,” said Mark Fleming, chief economist at First American. “While mortgage rates slid downward through September, they unexpectedly rebounded in October, wiping out the short-lived affordability boost from lower mortgage rates. As a result, potential home buyers may hit pause, dampening home buying activity through the rest of 2024. Heading toward the new year, house price growth seems poised to maintain a steady, balanced pace—neither too hot, nor too cold.”
October 2024 Local Market Price Tier Highlights
The First American Data & Analytics HPI segments home price changes at the metropolitan level into three price tiers based on local market sales data: starter tier, which represents home sales prices at the bottom third of the market price distribution; mid-tier, which represents home sales prices in the middle third of the market price distribution; and the luxury tier, which represents home sales prices in the top third of the market price distribution.
“House price trends vary significantly by market, and annual price growth in October was slowest in markets in the South and West,” said Fleming. “Affordability challenges, and in some markets a bump in inventory relative to demand, are keeping a lid on price appreciation.”
October 2024 First American Data & Analytics Price Tier HPI Highlights
Core-Based Statistical Areas (CBSAs) Ranked by Greatest Year-Over-Year Increases in Starter Tier HPI |
|||
CBSA |
Change in Starter Tier HPI |
Change in Mid-Tier HPI |
Change in Luxury Tier HPI |
|
+8.9 percent |
+13.3 percent |
+0.4 percent |
|
+8.3 percent |
+2.6 percent |
+1.7 percent |
|
+7.7 percent |
+7.2 percent |
+1.8 percent |
|
+7.0 percent |
+4.4 percent |
+3.4 percent |
|
+6.9 percent |
+5.9 percent |
+6.4 percent |
Additional October 2024 First American Data & Analytics HPI Highlights
Core-Based Statistical Areas (CBSAs) with Greatest Year-Over-Year Increases in HPI |
|
CBSA |
Change in HPI |
|
+7.0 percent |
|
+5.7 percent |
|
+5.6 percent |
|
+5.4 percent |
|
+5.0 percent |
Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decease in HPI |
|
|
-1.5 percent |
|
-1.2 percent |
|
-0.5 percent |
HPI data for all 50 states and the largest 30 CBSAs by population is available here.
Visit the First American Economic Center for more research on housing market dynamics.
Next Release
The next release of the First American Data & Analytics House Price Index will take place the week of December 16, 2024.
First American Data & Analytics HPI Methodology
The First American Data & Analytics HPI report measures single-family home prices, including distressed sales, with indices updated monthly beginning in 1980 through the month of the current report. HPI data is provided at the national, state and CBSA levels and includes preliminary index estimates for the month prior to the report (i.e. the preliminary result of July transactions is reported in August). The most recent index results are subject to revision as data from more transactions become available.
The HPI uses a repeat-sales methodology, which measures price changes for the same property over time using more than 46 million paired transactions to generate the indices. In non-disclosure states, the HPI utilizes a combination of public sales records, MLS sold and active listings, and appraisal data to estimate house prices. This comprehensive approach is particularly effective in areas where there is limited availability of accurate sale prices, such as non-disclosure states. Property type, price and location data are used to create more refined market segment indices. Real Estate-Owned transactions are not included.
Disclaimer
Opinions, estimates, forecasts and other views contained in this page are those of First American’s Chief Economist, do not necessarily represent the views of First American or its management, should not be construed as indicating First American’s business prospects or expected results, and are subject to change without notice. Although the First American Economics team attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. © 2024 by First American. Information from this page may be used with proper attribution.
About First American Data & Analytics
First American Data & Analytics, a division of First American Financial Corporation, is a national provider of property-centric information, risk management and valuation solutions. First American maintains and curates the industry’s largest property and ownership dataset that includes more than 8 billion document images. Its major platforms and products include: DataTree®, FraudGuard®, RegsData®, First American TaxSource™ and ACI®. Find out more about how First American Data & Analytics powers the real estate, mortgage and title settlement services industries with advanced decisioning solutions at www.FirstAmDNA.com.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 135 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of
1 The most recent index results are subject to revision as data from more transactions become available.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241119044109/en/
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Corporate Communications
First American Financial Corporation
(714) 250-3298
Investor Contact:
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Investor Relations
First American Financial Corporation
(714) 250-5214
Source: First American Data & Analytics
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