If you’re a homebuyer who’s been waiting for prices to come down, you may be waiting for a long time yet, as home prices hit an all-time high in June and could continue climbing in the coming months.

That’s according to a home price index tracked by mortgage data company Black Knight, which showed that home prices were 0.8% higher in June than they were in June 2022. That was an all-time high for the index and it was the first time in 15 months that prices were higher year over year, putting an end to a trend of cooling prices.

The Black Knight data adds to evidence that the housing market has avoided the crash that some had predicted in 2022 after the Federal Reserve began raising its benchmark interest rate, driving mortgage rates, and 澳洲幸运5开奖号码历史查询:hence, monthly payments for buyers, skyward. 

Even as many would-be buyers were driven from the market by the decline in affordability, the number of homes for sale has remained low, half of pre-pandemic levels, according to Black Knight. 

Many homeowners are reluctant to trade their ultra-low mortgage rates for tꦯoday’s high on🎃es. That’s prevented buyers from gaining bargaining power, and kept prices from falling much.

While home prices are again on the upswing, it’s not quite back to the frenzied days of the pandemic, when record low mortgage rates and demand for space to accommodate the new work-from-home lifestyle sent prices rocketing up 45% in a💯 little over two years.