The nationwide housing boom hit a new benchmark in March as housing prices jumped more than 11%, but experts say growth will likely taper off in the second half of the year as intensifying unaffordability narrows the pool of potential homebuyers, pushing down demand.

Key Facts

Home prices nationally jumped by an average of 11.3% year-over-year in March, the highest annualized gain since March 2006, according to  a report released Tuesday by CoreLogic, a property data firm based in Irvine, Calif.

Home prices rose by 2% on a month-over-month basis from February 2021.

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