Nobody wants to pay more for things they could've gotten for less had they bought them a few months earlier. That's what happens when inflation is rising, and it's definitely the case for home buyers in today's housing market. Housing inflation is one of the primary factors driving the overall inflation rate.
In fact, excluding food and energy, housing costs account for more than 60 percent of recent increases. That's no surprise to anyone who's shopped for a house to buy over the past few years. Since 2020, the cost of buying a home has increased significantly. There is good news, though.
In March, housing inflation experienced its smallest monthly gain since last November. And while that may not sound like much, it is a sign that rising housing costs are beginning to cool as the market calms down. That's welcome news, especially for spring home buyers getting ready to shop for a house.
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