Home prices increased 20.2% in the U.S. between May 2021 and May 2022, according to data from property analytics site CoreLogic. It was the 16th consecutive month of double-digit year-over-year home price growth. There were 13 states with price increases of more than 20% since last May, including Texas, with Florida experiencing the highest housing cost gain of 33.2%.
CoreLogic is predicting home prices will rise another 5% nationally between May 2022 and May 2023, according to a July report. However, on a regional level, there may be some areas of the country that experience a housing price decline in the next year. There are 98 regional markets out of 392 nationwide with a 50% chance of a home price decline in the next year, according to data from CoreLogic analyzed by Fortune.