While home prices increased 19.1% in January, compared to a year ago, consumers looking to purchase a home have remained optimistic moving into the new year, with more expecting to buy over the next six months as rapid home price appreciation is forecasted to slow.

This, according to the latest CoreLogic Home Price Index (HPI) and HPI Forecast for January 2022, released this week.

Despite market and economic challenges such as low inventory, continued buyer competition and declining affordability, potential buyers are ready to move while mortgage rates remain relatively low, according to the report.