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Housing market has bottomed out, and Americans are buying homes again

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The housing market has now bottomed out, and Americans are buying homes again

The US housing market has now bottomed out, and Americans are piling back into the home-buying market once again, according to CoreLogic. showed a 0.8% rise in February from January. On an annual basis, home prices in February increased by 4.4%, per CoreLogic data.

"But while housing market challenges remain, particularly in light of mortgage rate volatility and the ongoing banking turmoil, pent-up homebuyer demand is responding favorably to lower rates in many markets," she added. For March, CoreLogic anticipates that home prices will climbed 0.2% month over month, and then for February 2024 the firm expects a year-over-year increase of 3.7%. By comparison, home prices have seen annual gains of 4.6% for roughly three decades.

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