Skip to main content

Yes, Home Prices Are Still Rising

Phil Hall
Feb 06, 2018
Home prices during December were up 6.6 percent from the previous year and up 0.5 percent from the previous month

Home prices during December were up 6.6 percent from the previous year and up 0.5 percent from the previous month, according to new data from CoreLogic. December marked the fifth consecutive month that home prices were up by more than six percent on a year-over-year basis.
 
Four states recorded double-digit year-over-year home price spikes in December: Washington (12 percent), Nevada (11 percent), Utah (10.7 percent) and Idaho 10.7 percent. CoreLogic’s Market Condition Indicators (MCI) data considered 35 percent of the top 100 metropolitan areas had an overvalued housing market as of December, while 37 percent were at value and 28 percent were undervalued.
 
Looking ahead, CoreLogic is forecasting a 4.3 percent home price increase on a year-over-year basis from December 2017 to December 2018, but it is also predicting a 0.4 percent decrease from December 2017 to January 2018.
 
"The number of homes for sale has remained very low," said Frank Nothaft, Chief Economist for CoreLogic. "Job growth lowered the unemployment rate to 4.1 percent by year's end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices."
Home prices during December were up 6.6 percent from the previous year and up 0.5 percent from the previous month

 
 
Published
Feb 06, 2018
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021
FOMC Discusses Raising Interest Rates

Inflationary pressures have finally forced the Federal Open Market Committee (FOMC) to discuss raising interest rates and tapering its bond-buying program.

Analysis and Data
Jul 14, 2021