Posted To: MND NewsWire
Stories of rising home prices are no longer breaking news, but still, they are pretty remarkable. Black Knight, in its latest Mortgage Monitor , says the 12.3 percent growth in the selling price of single family homes in February was the highest such annual home price growth of any month on their records dating back to 1992. The overall price growth during the month was 11.6 percent, dragged lower by a 6.4 percent growth rate in condo prices. The company says this discrepancy bears watching. Condos typically appreciate more quickly when the housing market heats up, as it certainly has over the last year, and decelerate more quickly when markets cool. This reversal of historical patterns may suggest underlying weakness in the condo market. Perhaps this is driven by the pandemic and fears of…(read more)
