The most recent edition of CoreLogic’s Home Price Index (HPI) and HPI Forecast shows that home sales prices were up 6.9% year over year (compared with January 2016) and are up 0.7% from December 2016. The CoreLogic HPI Forecast predicts that home prices will increase by 4.8% (year-over-year basis from January 2017 to January 2018) and on a month-over-month basis home prices are expected to increase by 0.1% from January 2017 to February 2017.
“With lean for-sale inventories and low rental vacancy rates, many markets have seen housing prices outpace inflation,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Over the 12 months through January of this year, the CoreLogic Home Price Index recorded a 6.9 percent rise in home prices nationally and the CoreLogic Single-Family Rental Index was up 2.7 percent—both rising faster than inflation.”
