Home prices continue to climb amid inventory shortage and competitive spring market.
According to Black Knight Home Price Index, 93 of the nation's 100 largest housing markets saw a month-over-month home price increase in March, while just seven saw a decrease. The biggest one-month gains were found in Midwestern and East Coast markets, while the sharpest one-month declines could be found in Western and Southwestern markets. While some firms believe this marks the bottom for national house prices, others think prices will fall again once we're out of the peak homebuying season. Affordability remains a concern, and 53 housing markets ended March at a price that remains below their 2022 peak price.