Corelogic has released their Home Price Index and HPI Forecast for June 2016 showing that home prices are up 5.7%, year over year (which includes distressed sales) as well as increasing 1.1% month over month. In addition, CoreLogic’s HPI Forecast predicts that home prices will increase by 5.3% on a year-over-year basis from June 2016 to June 2017, and on a month-over-month basis by 0.6%.
“Mortgage rates dipped in June to their lowest level in more than three years, supporting home purchases….Local markets with strong economic growth have generally had stronger home-price growth. Among large metropolitan areas, Denver had the lowest unemployment rate and the strongest home-price appreciation.” Said Dr. Frank Nothaft, chief economist for CoreLogic.
