Up, Up and Away!

The Key Points:

– House prices rocketed: In a trend that seems as unstoppable as the latest Marvel movie franchise, home prices went up by a solid 5.5% on an annual basis in December. That’s not only higher than November’s 5% (boring), but also a climb worthy of a cape and mask.

– A duet of data: This latest update comes from not one, but two sources. Yes, S&P Global and the Federal Housing Finance Agency teamed up like a financial version of Batman and Robin to deliver the news. Wait, is Batman Robin’s financial advisor now?

– November’s numbers: Let’s not forget what happened a month ago. In November, the home prices experienced a 5% increase, which made everyone ‘Ohh and ahh’. But December, being the showoff it always is, decided to break November’s record and go all the way up to 5.5%.

The Hot Take:

Well, in the world of real estate, nothing excites like an increase in home prices that beats the previous month’s increase. It’s like the encore at a rock concert where the band comes back and plays your favorite song but even louder.

With this uptick in home prices, it’s like the market got an extra cup of coffee and was like, “Yeah, let’s keep this party going.” And why not? If you’re a homeowner, it’s like waking up to find out your Monopoly property on Park Place just skyrocketed in value.

But before you call your local realtor to list your house, remember that what goes up must eventually stabilize, according to gravity and every action movie ever made.

Move over, Spiderman. It’s no Manhattan skyscraper, but the housing market’s still scaling some seriously impressive heights. Stay tuned to see if it gets vertigo, or keeps on climbing. After all, in the world of real estate, it’s always a cliffhanger!

Original article: https://www.inman.com/2024/02/27/home-prices-hit-high-in-december-as-solid-steady-growth-wins-out/