The housing market continues to strengthen, despite rising interest rates. According to Black Knight’s August 2023 Mortgage Monitor, home prices hit another all-time high in June, on both a seasonally adjusted (SA) and non-adjusted basis.
The annual price growth rate has accelerated after slowing for 14 consecutive months. This is the inflection point we’ve been anticipating, as all of the losses from last fall have now been reversed at the national level, and the backward-looking annual home price growth rate is finally shaking off late-2022 weakness and will likely increase in coming months.
Andy Walden, vice president of enterprise research and strategy at Black Knight, discussed these important trends and challenges facing those in the market to purchase real estate with Kelly Evans on CNBC‘s The Exchange and Yahoo Finance anchors Diane King Hall and Jared Blikre. Click on the embedded viewers below to watch the segments: