AgentIndustry News

CoreLogic reports home price increase in August — and it’s only up from here

Even if tight inventory begins to ease up, we’re still likely to see continued price appreciation, company says

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Continued gains in employment, wage growth and historically low mortgage rates led to both month-over-month and year-over-year increases in home prices -- and are likely to support home price appreciation for at least the next year, CoreLogic said today. Releasing its Home Price Index (HPI) for August, CoreLogic said home prices nationwide increased 1.2 percent from July to August and 6.9 percent from August 2014 to the same month this year. “Home price appreciation in cities like New York, Los Angeles, Dallas, Atlanta and San Francisco remain very strong reflecting higher demand and constrained supplies,” said Anand Nallathambi, president and CEO of CoreLogic. Colorado and Washington saw the biggest home price increases, with prices growing 10.4 percent and 10.3 percent, respectively. Prices declined only in Mississippi, which experienced a 0.9 percent decrease, CoreLogic reported. In addition to employment and wage gains and low mortgage rates, “an increasing nu...