According to the latest CoreLogic Home Price Index Report home prices across the country rose 6.9%, year over year and are up 1.6% from March. In addition, the report says that home prices have increased 47% since bottoming out in March, 2011 and are predicted to increase by 5.1% through April 2018.
“Mortgage rates in April dipped back to their lowest level since November of last year, spurring home-buying activity,” said Dr. Frank Nothaft, chief economist for CoreLogic. “In some metro areas, there has been a bidding frenzy as multiple contracts are placed on a single home. This has led home-price growth to outpace rent gains.”
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