Home prices rose almost everywhere in the US this summer | CNN Business

From July through September, home prices increased in 181 out of 185 cities tracked by the National Association of Realtors. But the gains had slowed substantially as mortgage rates rose during that time. About half of cities saw double-digit increases from the year before, down from 80% of cities in the prior quarter. “Much lower buying capacity has slowed home price growth and the trend will continue until mortgage rates stop rising,” said Lawrence Yun, NAR’s chief economist.

9% in the third quarter from the year before, according to the report. Prices were up 8.2% in the Northeast, 7.4% in the West, and 6.6% in the Midwest. Seven of the 10 cities with the biggest year-over-year price jumps were in Florida. Sarasota, Florida, saw the biggest price jump in the third quarter, up 23.8% from a year earlier. It was followed by the Lakeland and Winter Haven area of Florida, up 21.2% from last year; Myrtle Beach, South Carolina, up by 21.1%; Panama City, Florida, up by 20.

People were locked in to lower rates for 90 days; meaning, people who locked their rate in April-May, were essentially not effected by the rake if they bought July - August. Significant value drops in my market since august.

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