Home prices hit a new-all-time high across the US in June

During this summer, home prices have reached new record highs across a majority of the United States, a reflection of the severe shortage of housing inventory that has led to an increasingly unaffordable housing market.

According to a report from Black Knight, the Home Prices Index hit an all-time high in June. In 30 out of the 50 housing markets tracked by the analytics firm, home prices achieved new records. Across all markets, prices exhibited a year-over-year increase of 0.8% in June, a notable jump from the 0.2% growth reported in May.

Andy Walden, the Vice President of Enterprise Research at Black Knight, noted that the months of rapid home price appreciation would eventually lead to a significant impact on the rate of appreciation. June, according to him, marked that turning point.

The surge in prices can be attributed in part to the imbalance between supply and demand caused by an inventory shortage in the housing market. The presence of high mortgage rates has dissuaded existing homeowners from listing their properties for sale. This imbalance has contributed to the sustained increase in home prices over the past year, with no clear resolution in sight for this trend.

Notably, the average 30-year fixed mortgage rate recently rose to 6.9%, according to Freddie Mac. Meanwhile, the housing market is estimated to be short of around 3.8 million housing units, further exacerbating the supply-demand imbalance and its impact on home prices.

tastytrade logo+
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.