Corelogic has released their Home Price Index and HPI Forecast for May 2016 showing that home prices are up 5.9%, year over year (which includes distressed sales) as well as increasing 1.3% 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 May 2016 to May 2017, and on a month-over-month basis by 0.8%.
“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,” said Dr. Frank Nothaft, chief economist for CoreLogic. “The consistently solid growth in home prices has been driven by the highest resale activity in nine years and a still-tight housing inventory.”
