July 6, 2022

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Home Prices Are Rising Less Fast, But Home Doesn't Suddenly Get Cheaper |  Currently

Home Prices Are Rising Less Fast, But Home Doesn’t Suddenly Get Cheaper | Currently

On Wednesday, the Dutch Statistics and Land Registry reported that house prices were on average 18.8 percent higher in May than a year ago. This is nearly 1 percent less than in April. Also in February and March, prices rose at a lower rate each month than the previous month.

At the start of the Corona crisis, homeownership prices rose faster and faster. Where there was an additional 6.3 per cent in January 2020, that was more than quadrupling in January of this year. In February and March, the increase was slightly moderate and settled in April at 19.7 percent.

Despite recent talk of a possible slowdown in the housing market, prices are still rising sharply compared to the previous year. “Home prices have risen less quickly since January, but that doesn’t mean it’s suddenly easier to buy a home,” said CBS Chief Economist Peter Heine van Mulligen.

Since last fall, the prices of owner-occupied homes have risen about 20 percent each month. “That is now slowly stabilizing, but the less sharp increase in prices doesn’t suddenly make the home cheaper.”

In June 2013, owner-occupied housing prices reached a low point. Since then, there has been an upward trend. Compared to a nine-year low, prices nearly doubled in May 2022.

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