CoreLogic: House Prices up 3.6%Year-over-year in June
House prices increased nationally by 3.6%from June 2018 On a month-over-month basis, rates increased by 0.5%in July2019 (June 2019 data was modified. Modifications with public records data are basic, and to guarantee precision, CoreLogic includes the recently launched public information to offer upgraded outcomes every month.)
Home rates continue to increase on an annual basis with the CoreLogic HPI Projection suggesting yearly price growth will increase by 5.4%by July2020 On a month-over-month basis, the projection calls for house costs to increase by 0.4%from July 2019 to August2019 The CoreLogic HPI Forecast is a projection of house prices computed using the CoreLogic HPI and other economic variables. Values are obtained from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.
” Sales of new and existing houses this July were up from a year ago, supported by low home mortgage rates and rising household earnings,” said Dr. Frank Nothaft, primary economic expert at CoreLogic. “With the for-sale stock staying low in many markets, the pick-up in buying has nudged rate growth up. If low rates of interest and rising income continue, then we expect home-price growth will reinforce over the coming year.”
CR Note: The YoY change in the CoreLogic index had been decreasing, however increased a little in July compared to June.