According to the latest CoreLogic Home Price Index (HPI) Report, home prices across the country rose 6.9% year over year for August and are up 10.9 % from July. In addition, Corelogic predicts that home prices will increase by 4.7% on a year-over-year basis through August 2018.
Key takeaways:
- National Home Prices Projected to Increase 4.7% by August 2018
- Utah and Washington Continue to Post Double-Digit Annual Home Price Increases
- Las Vegas Home Prices Increase 8.4% Year Over Year, Highest Among Large Metros
“While growth in home sales has stalled due to a lack of inventory during the last few months, the tight inventory has actually helped stabilize price growth,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Over the last three years, price growth in the CoreLogic national index has been between 5 percent and 7 percent per year, and CoreLogic expects home prices to increase about 5 percent by this time next year.”
Click here to read the full report on CoreLogic.com
