Discussion Paper

Recent Trends in Fifth District Housing Market Indicators

Abstract: There is evidence that the tight housing markets of the past few years are starting to loosen, with increased supply and falling prices. However, many Americans still struggle to buy a home. Between the fall of 2020 and the summer of 2022, home price growth accelerated in the United States and in all Fifth District states after being relatively steady for a decade. Using the CoreLogic Home Price Index, price increases were most dramatic in North Carolina and South Carolina, where year-over-year increases reached historic highs of 25 percent. While price increases remain high relative to the period between the Great Recession and the fall of 2020, they have moderated for every Fifth District state and for the United States over the past six months.

Keywords: Housing market; 5th district; sale-to-list price ratio; housing inventory;

Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Regional Matters

Publication Date: 2023-02-16