Home Price Appreciation Stabilizes, while Rent Growth Continues to Strengthen in October

Robust demand and persistent supply chain bottlenecks have led home prices to appreciate in October by 17.6% Year-over-Year (YoY), according to the Amherst Home Price Appreciation Index (HPA). Although this is slower than the record high growth of 19.8% back in June, the persistence of pandemic-induced bottlenecks and high demand suggests prices will likely continue growing well into 2022. Rents for single-family homes have also seen robust growth, but at an accelerating rate. Strong consumer demand for single-family rentals drove October rents to grow YoY by 10.1%, according to the Amherst Rent Growth index.