The biggest gains were in the areas surrounding the Florida cities of Punta Gorda, with a price increase of 29% from a year ago, and Ocala, at 28%, the NAR report said.
Mortgage rates jumped to a two-year high this week as the economy showed signs of shaking off the Omicron surge.
The share of consumers who think it’s a good time to buy a home fell to a record low in January as rising mortgage rates and soaring property prices discouraged Americans.
The report sent bond yields, a benchmark for mortgage rates, soaring to highs not seen since November 2019, before the first Covid-19 infection was identified.
The upward trajectory of mortgage rates stalled as economic data showed Omicron's impact on the U.S. economy.
The 18% jump in mortgage refinancing applications came as home-loan rates rose to a 22-month high last week.
As mortgage rates hover near two-year highs, Federal Reserve Bank of Kansas City President Esther George gave a speech on Monday that likely will send them higher.
More than half of U.S. states don't require adequate disclosures to homebuyers about past flooding events or a property's location in a flood plain, Fannie Mae said.
