Property appreciation rate
Year-over-year change for February
|State Name||Property appreciation rates, YOY|
|District of Columbia||2.91%|
While home prices are still rising, more inventory on the market could drag down the rate of increase.1 The year-over-year appreciation rate slowed in February to 4.14% versus 5.2% in November 2018. Additionally, the absorption rate had a year-over-year decline of 22.40% in January. This typically indicates less demand and more inventory as fewer homes were sold in a given time period. Although it’s still a seller’s market, declines in both the appreciation and absorption rate suggest that housing sales may be less robust.
The top states for home appreciation were in the West: Idaho (rate of 10.45%), Utah (9.05%), Nevada (8.98%) and Arizona (6.52%). On the opposite end, prices in North Dakota depreciated by 0.44%—the only state with a decline.
1 Source data: CoreLogic®
Data date: 4/03/2019
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