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Home > Business, Economy, home buyers, News Item, Trends > Home Prices Gain Nearly Ten Percent

Home Prices Gain Nearly Ten Percent

July 7th, 2016

home_pr_increase___etftrends_creditAccording to what CoreLogic’s Home Price Index, home prices posted a year-over-year gain in May of 5.9 percent, and an increase over April, 2016 of 1.3 percent, above CoreLogic’s expectations of an 0.9 percent rise.

CoreLogic Chief Economist Frank Nothaft said year-over-year home prices have risen by 5-6 percent for 22 consecutive months, as reported by nationalmortgagenews. He added, “The consistently solid growth in home prices has been driven by the highest resale activity in nine years and a still-tight housing inventory.”

In May, Oregon and Washington posted the highest price increases, 11% and 10%, respectively, while three eastern states experienced depreciation: Connecticut 0.9%, New Jersey at 0.2% and Pennsylvania at 0.1%.

MHProNews has learned CoreLogic forecasts an increase of home prices in June as compared to May of 0.8%, and a 5.3% increase year-over-year in May of 2017. ##

(Home prices rising-credit=etftrends-posted DailyBusinessNewsMHProNews)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews)

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