Skip to main content

Guess What? Home Prices Are Still Going Up

Phil Hall
Jun 06, 2017
Home prices climbed for the 24th consecutive month in March while home sales fell for a fourth consecutive month

Home prices nationwide saw a 6.9 percent year-over-year increase in April, according to new data from CoreLogic. On a month-over-month measurement, April’s home prices were up 1.6 percent.
 
Among the states, Washington and Utah saw the greatest year-over-year home price increases, at 12 percent and Utah 10.1 percent, respectively. Three states saw year-over-year declines: Wyoming (down 3.9 percent), Alaska (down 0.2 percent) and Delaware (down 0.2 percent).
 
CoreLogic is forecasting that home prices will increase by 5.1 percent on a year-over-year basis from April 2017 to April 2018, and on a month-over-month basis by 0.7 percent from April to May.
 
"Interest rates on fixed-rate mortgages are down by one-fourth of a percentage point since mid-March, just in time to support the spring home-buying season," said Frank Martell, president and CEO of CoreLogic. "Some metro areas have low for-sale inventory, short time-on-market trends and homes that sell above the list price. Geographically, gains were strongest in the West with Washington and Utah posting double-digit gains."
 
But what are homebuyers getting for their money? In a separate study, U.S. Census Bureau found that the median home size decreased to 2,422-square feet in 2016, slightly below the record peak of 2,467-square feet recorded in 2015. The Census Bureau also found there were more homes across the country that were less than 2,000-square feet and fewer that were more than 3,000-square feet in size. 
Guess What? Home Prices Are Still Going Up

 
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021