2021 Home Prices Pick Up Right Where 2020 Left Off, Radian Home Price Index Reports - Seite 2
REGIONAL DATA AND TRENDS
- Southwest was only region to increase price appreciation rate in January
- South region was the strongest last month
While still firmly positive, regionally, five of the six regions had softer home price appreciation in January 2021 compared to the prior month. In January, the Southwest Region (+7.9 percent annualized) was the only region to accelerate price appreciation from December’s strong month. However, it was the South region (+ 8.9 percent annualized) that captured the top position for price growth in January.
A closer look at state level home price appreciation rates in January shows distinct differences by state. States in the West (ID, WA, MT, OR) held four of the top 10 states for positive appreciation, while the South (AL, LA) also fared well. However, these states are smaller components of the housing stock in their respective regions, diminishing their impact on the broader regional indices.
METROPOLITAN AREA DATA AND TRENDS
- Seattle is only large metro to record accelerating price growth in January
- Large metro area’s median price outpaces nation
Across the 20-largest metro areas of the U.S, the start of 2021 resembles the national trend. In 18 of the 20 largest metros, January’s appreciation was the slowest since the third quarter of 2020. In most cases, August was the last time there were similar appreciation rates. This underscores the significant appreciation rates recorded in the fourth quarter as mortgage rates once again fell to all-time lows.
The average median estimated home price of homes in the 20-largest metros ended January at $376,158. Compared to the national median estimated price, the largest cities continue to outpace the nation. In January, the largest metros’ median stood more than $105,000 higher than the national median, the largest gap in over two years.
ABOUT THE RADIAN HPI
Red Bell Real Estate, LLC, a subsidiary of Radian Group Inc., provides national and regional indices for download at info.radian.com/hpi, along with information on how to access the full library of indices.
Additional content on the housing market can also be found on the Radian Insights page located at https://radian.com/news-and-knowledge/insights.
Red Bell 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.