CoreLogic: Home Prices Increased 1.8% In April

Posted by Patrick Barnard on June 07, 2016 No Comments
Categories : Residential Mortgage

U.S. home prices increased 1.8% in April compared with March and increased 6.2% compared with April 2015, according to CoreLogic’s U.S. Home Price Report. However, the firm is forecasting that home price appreciation will slow over the next year.

Currently, CoreLogic is forecasting that home prices increased 0.9% from April to May and will increase 5.3% between April 2016 and April 2017.

The report includes distressed sales. CoreLogic reports that it revised its March home price data.

“Low mortgage rates and a lean for-sale inventory have resulted in solid home-price growth in most markets,” says Frank Nothaft, chief economist for CoreLogic, in a statement. “An expected gradual rise in interest rates and more homes offered for sale are expected to moderate appreciation in the coming year.”

“The appreciation in home prices over the past year reflects the gathering pace of the recovery in housing in most states and regions in the U.S.,” adds Anand Nallathambi, president and CEO of CoreLogic. “The rate recovery does vary somewhat based on local conditions. Price increases in a significant number of states in the Northeast and Mid-Atlantic regions lagged the national average with Connecticut, Maryland, Pennsylvania, West Virginia, New Jersey and Vermont registering gains of one percent or less over the past year.”

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