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U.S. Home Price Gains Slow in May, Radian Home Price Index Reveals
The Radian HPI also rose 7.8 percent year-over-year (
The Radian HPI is calculated based on the estimated values of more than 70 million unique
“Home price gains across the
Gaenzler also added that “softer home price appreciation across the
NATIONAL DATA AND TRENDS
Median home price in the
U.S.rose to $254,826
- Home prices rose an annualized 5.5 percent over the last three months
Nationally, the median estimated price for single-family and condominium homes rose to
REGIONAL DATA AND TRENDS
- Majority of regions softer from prior month
- South and Northeast regions exhibit largest changes
In May, home price appreciation slowed from the prior month in all regions except the Mid-Atlantic, a region that has, so far, reported the most negative HPI impacts during COVID-19. The weakest regions this month were the South and Northeast, while the Midwest continued to be the best performing region. In a change from April’s report, all regions reported positive home price growth in May. Home buyer interest remained robust, while the future supply of new housing (New Private Housing Units Authorized by
The Western region recorded an actual 12-month price appreciation rate (+6.1 percent), a rate higher than its annualized change from April to May (+5.5 percent), but lower than the 3-month rate of 6.9 percent. Conversely, the South which recorded a 12-month appreciation rate of 6.8 percent was only able to generate a 2.5 percent annualized growth rate last month.
METROPOLITAN AREA DATA AND TRENDS
New Yorkmetro area prices rebound in May
- Slower, but positive, appreciation the norm in most metros
Across the 20-largest metro areas of the
The weakest metros in May based on their annualized growth included
ABOUT THE RADIAN HPI
Red Bell, a subsidiary of
Additional content on the housing market can also be found on the Radian Insights page located at https://radian.com/news-and-knowledge/insights.
The company offers the Radian HPI data set along with a client access portal for content visualization and data extraction. The engine behind the Radian HPI has created more than 100,000 unique data series, which are updated on a monthly basis.
The Radian HPI Portal is a self-service data and visualization platform that contains a library of thousands of high-value indices based on both geographic dimensions as well as by market, or property attributes. The platform provides monthly updated access to nine different geographic dimensions, from the national level down to zip codes. In addition, the Radian HPI provides unique insights into market changes, conditions and strength across multiple property attributes, including bedroom count and livable square footage. To help enhance its customers’ understanding of granular real estate markets, the library is expanded regularly to include more insightful indices.
In addition to the services offered by its Red Bell subsidiary, Radian is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. The company is powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit www.radian.com to see how Radian is shaping the future of mortgage and real estate services.
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