Skip to main content

CoreLogic: Home Prices Enjoy 6.8 Percent YoY Increase

Phil Hall
Jun 02, 2015

Home prices experienced a 6.8 percent year-over-year increase in April and a 2.7 month-over-month increase, according to the latest data released by CoreLogic. April’s home price data, which includes distressed sales, marks the 38th month of consecutive year-over-year increases in home prices nationally.

CoreLogic found that 30 states and the District of Columbia were either at or within 10 percent of their peak prices in April. Eight states–Alaska, Colorado, Nebraska, New York, Oklahoma, Tennessee, Texas and Wyoming–and the District of Columbia reached new price peaks that they had not experienced since January 1976, when the CoreLogic launched its Home Price Index (HPI).

The states with the highest home appreciation in April were the five states with the highest home price appreciation were: South Carolina (11.4 percent), Colorado (9.7 percent), Washington (9.1 percent), Florida (nine percent) and Texas (8.3 percent). CoreLogic also measured home prices in the nation’s top 100 metropolitan statistical areas and found 92 recorded year-over-year increases.

If distressed sales were removed from the data, according to CoreLogic, April’s home prices increased year-over-year by 6.8 percent month-over-month by 2.3 percent month. Without the inclusion of distressed sales, only two states recorded year-over-year depreciation in April: South Dakota (-0.3 percent) and Louisiana (-0.2 percent).

“Old fashioned supply and demand, fueled by historically low mortgage rates and improving consumer finances and confidence, continue to push home prices up,” said Anand Nallathambi, president and chief executive officer of CoreLogic. “We expect continued price appreciation throughout 2015 and into next year. Over the longer term, household formation, up by more than one million over the past year alone, will drive down vacancy rates and create tighter housing markets in many metropolitan areas. This should provide the necessary underpinning for rising prices for the foreseeable future.”

Jun 02, 2015
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022