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Annual Home Price Appreciation at Highest Levels Since Before COVID Lockdowns Began
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Radian Home Price Index (HPI) Infographic
For the prior twelve months, the Radian HPI rose 9.2 percent (
“As we are now a full year from the initial COVID induced national closures of 2020, the U.S.’s strong national housing market continues to chug along in April,” noted
NATIONAL DATA AND TRENDS
Median home price in the
U.S.rose to $277,356
- Active supply of homes well below long term average
The national median estimated price for single-family and condominium homes rose to
Gains in home prices are partially due to a continued lack of supply. After falling for 10 of the prior 12 months, active listings have now increased three consecutive months—although only by 32,000 properties from the prior month. In April, more than 881,000 residential properties were for sale, the fifth month with less than one million properties listed nationally. Over the last decade, the
REGIONAL DATA AND TRENDS
- All Regions reported solid appreciation from prior month.
- Three Western states consistently demonstrate strong home price appreciation
While all six Regional indices reported higher 12-month rates of home price appreciation, only two Regions (Mid Atlantic and Northeast) reported higher rates of appreciation compared to March. In April, the Northeast narrowly edged out the
Looking at trends from the last six months, the Radian HPI can identify some state-level winners and losers. The states showing the greatest increase in appreciation trends include a combination of South, Southwest and Midwest states including NE, AZ, AR, and MS. The most consistently strong states for appreciation in the last half year include ID, MT, GA, and WA. While these states showed increasing or consistently steady rates of appreciation, eleven of the 50 states plus DC, recorded lower monthly appreciation rates than the average appreciation over the last six-months including NC, ND, WV and KY.
METROPOLITAN AREA DATA AND TRENDS
Boisegot stronger in April
- Large metro areas median price outpace nation
Across the largest or most important metro areas of the
The average median estimated home price of homes in the 50-largest metros ended April at
ABOUT THE RADIAN HPI
Additional content on the housing market can also be found on the Radian Insights page located at https://radian.com/news-and-knowledge/insights.
Red Bell offers the Radian HPI data set along with a client access portal for content visualization and data extraction. The engine behind the Radian HPI has created more than 100,000 unique data series, which are updated on a monthly basis.
The Radian HPI Portal is a self-service data and visualization platform that contains a library of thousands of high-value indices based on both geographic dimensions as well as by market, or property attributes. The platform provides monthly updated access to nine different geographic dimensions, from the national level down to zip codes. In addition, the Radian HPI provides unique insights into market changes, conditions and strength across multiple property attributes, including bedroom count and livable square footage. To help enhance customers’ understanding of granular real estate markets, the library is expanded regularly to include more insightful indices.
In addition to the services offered by its Red Bell subsidiary, Radian is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. The company is powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit http://www.radian.com to see how Radian is shaping the future of mortgage and real estate services.
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