DataMarkets & Economy

DC home prices saw one healthy May, CoreLogic says

CoreLogic monitors single-family home prices across the US and forecasts into 2017
  • Including distressed sales, single-family home prices nationwide increased 1.3 percent from April to May and a 5.9 percent game year-over-year.
  • CoreLogic forecasts US home prices to jump another 0.8 percent in June and 5.3 percent by May of next year.
  • The Washington-Arlington-Alexandria area's year-over-year increase in May was an uninspiring 2.1 percent.

Home prices continue to increase throughout the nation for the 52nd consecutive month, according to CoreLogic's monthly Home Price Index report -- but some notable metros might have overvalued markets. Including distressed sales, single-family home prices nationwide increased 1.3 percent from April to May, CoreLogic says, which came out to a 5.9 percent gain year-over-year. The real estate data firm forecasts home prices to jump another 0.8 percent in June and 5.3 percent by May of next year. "Housing remained an oasis of stability in May, with home prices rising year-over-year between 5 percent and 6 percent for 22 consecutive months," Chief Economist for CoreLogic Dr. Frank Nothaft said in a statement. "The consistently solid growth in home prices has been driven by the highest resale activity in nine years and a still-tight housing inventory." Although the HPI continues to move up year-over-year each month, it remains 7.2 percent below the peak values of A...