Corelogic has released their Home Price Index and HPI Forecast for February 2016 showing that home prices are up 6.8%, 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 5.2% on a year-over-year basis from February 2016 to February 2017, and on a month-over-month basis by 0.6%.
“Fixed-rate mortgage rates dropped more than one-quarter of a percentage point in the first three months of 2016, and job creation averaged 209,000 over the same period,” said Dr. Frank Nothaft, chief economist for CoreLogic. “These economic forces will sustain home purchases during the spring and support the 5.2 percent home price appreciation CoreLogic has projected for the next year.”
Click here to read more on Corelogic.com
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