Yes, Home Prices Are Still Rising

Jun 05, 2018

Home prices during April were up by 6.9 percent year-over-year and were up also up 1.2 percent from the previous month, according to new data from CoreLogic.

All 50 states recorded annualized home price increases in April, with four experiencing double-digit growth: Washington (12.8 percent), Idaho (12.4 percent), Nevada (12.2 percent) and Utah (11.5 percent). Among the nation’s major metro markets, San Francisco and Las Vegas tied as the leaders with 12.3 percent annualized home price gains.

However, CoreLogic’s Market Condition Indicators (MCI) analysis of housing values in the country’s 100 largest metropolitan areas determined that 40 percent of these markets were overvalued in April, while 32 were at value and 28 were undervalued. When looking at only the top 50 markets based on housing stock, the MCI analysis determined that 52 percent were overvalued, 14 percent were undervalued and 34 percent were at value.

“The best antidote for rising home prices is additional supply,” said Frank Nothaft, Chief Economist for CoreLogic. “New construction has failed to keep up with and meet new housing growth or replace existing inventory. More construction of for-sale and rental housing will alleviate housing cost pressures.”

And with the beginning of this year’s hurricane season, CoreLogic issued its 2018 Storm Surge Report, which identified Florida as the most vulnerable state with 2.7 million homes at risk and a projected cost of $552 billion to rebuild homes across the state if the maximum number of properties were damaged by a major storm.

About the author

Phil Hall

Link copied

Published

Jun 05, 2018

Military Lending

MISMO, VA Push To Digitize Veteran Loan Eligibility Process

New data standards aim to streamline Certificate of Eligibility requests, reduce manual processing and speed VA loan originations

MISMO has released new standardized data mappings designed to help lenders process VA loan eligibility requests more efficiently as part of the U.S. Department of Veterans Affairs' ongoing digital transformation of its Loan Guaranty program.Developed in collaboration with th...

Non-QM

Untapped Home Equity Creates Opportunity For Alternative-Doc HELOCs

New Home Equity Gap Index estimates U.S. homeowners hold $11 trillion in available equity as some Non-QM lenders expand options for self-employed borrowers

A new Home Equity Gap Index suggests that billions of dollars in home equity remain largely untapped, creating an opportunity for Non-QM lenders offering alternative-documentation HELOCs to borrowers who may not qualify under traditional underwriting.According to The Mortgag...

Jul

New Orleans, LA

More from

Industry News

President Trump Cancels 21st Century ROAD To Housing Act

Trump cancels signing the bipartisan housing bill, leaving affordability package in limbo

Industry News

Jun 24, 2026

Commercial, Multifamily Mortgage Debt Tops $5 Trillion In Q1

MBA says outstanding debt grew by $26.3 billion in the first quarter, led by multifamily lending and increased holdings from banks, agencies, and life insurers

Industry News

Jun 18, 2026

Fed Holds Rates Steady, But Outlook Dims For Mortgage Rate Relief

The Federal Reserve left rates unchanged but updated projections show more policymakers expecting additional hikes

Industry News

Jun 18, 2026

Congress Nears Final Vote On 21st Century ROAD to Housing Act

Senate voted 87-8 to advance House-amended package, with final votes expected in coming days

Industry News

Jun 17, 2026

Florida Pending Sales Signal Strong Summer Housing Market

Closed sales rise for a ninth straight month as inventory gives buyers more negotiating power