CoreLogic’s Cameron Kusher has released a new report examining price growth across the three broad market segments – bottom 25%, middle 50% and top 25% – and shows that the most expensive properties have shown the most improvement, in terms of annual price growth, and are likely to lead any recovery:
Nationally, from the market peak to the end of May ’19, the most affordable quarter has seen values fall by -1.4%, the middle of the market has seen values fall -6.6% and the top quarter has fallen by -11.6%. The -1.4% fall across the lower quartile is the largest since Sep-18, the -6.6% fall across the middle of the marketis slightly down on the previous month while the -11.6% fall across the top quartile is the second consecutive month in which falls have slowed and the smallest annual decline since Dec-18.
