Census Divisions Show Varied Performance
All nine U.S. census divisions showed positive year-over-year price changes. The Middle Atlantic division topped the list with a 7.1% gain, while the West South Central division posted the smallest increase at 2.3%. The Northeast continued to outperform, with Boston reaching an all-time high as the only market to do so in December.
Market Drivers: Tight Inventory and Regional Factors
According to Dr. Anju Vajja, FHFA’s Deputy Director, tighter housing inventory contributed to the accelerated price growth in Q4 2024. The S&P CoreLogic Case-Shiller report highlighted that while national prices remain above inflation, the pace of appreciation is below the historical trend, particularly in Western markets. San Francisco and Seattle faced notable declines of 4.5% and 3.0%, respectively, during the latter…
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