Skip to main content

CoreLogic: Home Prices Up Yet Again

Phil Hall
Dec 05, 2017
Home prices climbed for the 24th consecutive month in March while home sales fell for a fourth consecutive month

Home prices in October were up by seven percent on a year-over-year measurement and were up 0.9 percent from September, according to new data from CoreLogic. October marked the second consecutive month when the year-over-year home price appreciation was seven percent.
All 50 states recorded year-over-year home price increases, with the highest spikes recorded in Washington (12.5 percent) and Nevada and Utah (tied at 10.1 percent). The metro areas with greatest 12-month home price appreciation, Las Vegas (10.2 percent) and Denver (8.3 percent), were marked as overvalued by CoreLogic, which also stated that half of the nation’s top 50 markets were overvalued.
CoreLogic also forecasted that home prices will increase by 4.2 percent on a year-over-year basis from October 2017 to October 2018. However, the company predicted a 0.2 percent month-over-month decline from October to November.
"The acceleration in home prices is good news for both homeowners and the economy because it leads to higher home equity balances that support consumer spending and is a cushion against mortgage risk," said Frank Martell, President and CEO of CoreLogic. "However, for entry-level renters and first-time homebuyers, it leads to tougher affordability challenges. According to the CoreLogic Single-Family Rent Index, rents paid by entry-level renters for single-family homes rose by 4.2 percent from October 2016 to October 2017 compared with overall single-family rent growth of 2.7 percent over the same time."
Home prices in October were up by seven percent on a year-over-year measurement and were up 0.9 percent from September

Dec 05, 2017
Nominations Open For Industry Titans Award

NMP Magazine to honor people who represent industry with professionalism.

Industry News
Sep 23, 2022
Fidelity National Names New HR Chief

Melissa Circelli previously held same position at Black Knight.

Industry News
Sep 23, 2022
Ruoff Mortgage Lays Off Nearly 5% Of Staff

Company announced the layoffs Sept. 16, citing 'economic conditions.'

Sep 21, 2022
SPS Acquires Rushmore Loan Management Services

The acquisition will include hiring Rushmore servicing personnel and assuming Rushmore servicing contracts.

Industry News
Sep 19, 2022
Fannie Mae Names New EVP, Chief Risk Officer

Former Morgan Stanley exec has nearly 30 years of risk management experience.

Industry News
Sep 15, 2022
Planet Home Lending Expands Operations In N.Y.

Mortgage vets Michael Cabales and Mike Titiyevsky to lead expansion effort in NYC metro area.

Industry News
Sep 13, 2022