AgentIndustry News

39 months of home price increases … and counting

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Home prices increased in the month of May for the 39th consecutive month, says CoreLogic, a property information and analytics provider. According to the company’s Home Price Index (HPI), home prices nationwide -- including distressed property sales -- increased by 6.3 percent this May compared with May 2014. This time next year, prices will likely increase another 5.1 percent, CoreLogic predicted. Even with mortgage rates on the rise, we’re seeing an active housing market with high demand and limited supply, CoreLogic said. Some real estate hotbeds, such as San Francisco, are recording double-digit appreciation rates over the past year. In addition, higher home prices over the past couple of years have spurred increases in new single-family construction. “The rate of home price appreciation ticked up in May, with gains being fairly widely distributed across the country,” said Anand Nallathambi, president and CEO of CoreLogic. “Sales of newly built homes dur...