ECONOMIC PERSPECTIVES
HOME PRICE GAINS DEPEND ON LOCATION AND INFLATION;
TOO EARLY TO CALL A TOP IN HOME VALUES
Authored by Brian Jones, FHLBNY Financial Economist

Highlights: 

June 2018 

  • Home Prices Have Risen Since 2012, But Amount of Appreciation Has Varied Widely
  • In Real Terms, Home Values Have Moved Higher, But Remain Below Pre-Crisis Peaks
  • Divergences in Home-Price Performance Have Been Large Across the FHLBNY District
  • Real Home Values Continue to Improve Across the FHLBNY District
  • Demand/Supply Dynamics Suggest It Would Be Premature to Call a Top in Home Prices

Buoyed by solid economic conditions and limited supplies of available dwellings, home-selling prices have risen steadily since their post-financial-crisis troughs of 2012. The amount of appreciation has varied widely across the country and the Federal Home Loan Bank of New York (FHLBNY) district in both nominal and real terms, however...

 

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