US house price inflation to cool as buyers sidelined by higher rates

Slowing down: US home prices have been on the rise for some time, but analysts now expect a significant shift to cooling down going forward. — Los Angeles Times

NEW YORK: Burning United States house price inflation will cool to 10%, half its current rate this year and slow further over the next two as already very expensive homes and climbing mortgage rates sideline more prospective homebuyers, a Reuters poll has found.

Supported by near-zero borrowing costs and a rush by existing homeowners to find more space, average American house prices have soared by over one-third since the pandemic started. But that unexpected boom is petering out already.