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Home prices up for first time in eight months – February 2023

Nicholas NolanHome Buying, Market Trends Leave a Comment

The Black Knight Home Price Index reported that February’s decrease in 30-year interest rates resulted in an increase in home prices, halting seven consecutive months of negative growth. This increase was noted in 39 of the 50 largest markets in the United States, marking a significant shift in home price trends. Black Knight’s daily transaction information showed that the purchase market increased as borrowers took advantage of the limited inventory caused by low-interest rates, leading to an uptick in home prices. However, the U.S. annualized home price growth rate continued to slide, falling to 1.94% in February. Despite the widespread …