Black Knight: Persistent Constraints in For-Sale Inventory Drive Home Prices Up a Record-Breaking 14.8% Annually in April, Making Housing Least Affordable Since Late 2018
As constraints in residential for-sale inventory persist, this month's report looks at how recent and aggressive home price gains are impacting housing affordability.
- As constraints in residential for-sale inventory persist, this month's report looks at how recent and aggressive home price gains are impacting housing affordability.
- "That's the highest annual home price growth rate we've ever seen and Black Knight's been tracking the metric for almost 30 years now.
- Single-family homes saw the greatest gains, with prices up 15.6% from last April, also an all-time high, while condo prices are up 10%.
- Driving this growth are two key elements: historically low interest rates and more acutely the lack of available for-sale inventory.