CoreLogic: Home Prices Up 6.2 Percent

Sep 04, 2018

Pending home sales were on the rise in August, according to new data from the National Association of Realtors (NAR)

Home prices during July were up 6.2 percent from one year earlier, according to new data from CoreLogic. On a monthly measurement, home prices rose 0.3 percent from June to July.

Double-digit annualized home price increases were recorded in July in Nevada (12.9 percent), Idaho (12.3 percent) and Washington (10.4 percent). North Dakota was the sole state with an annualized decline in July, recording a 0.6 percent drop. CoreLogic also reported that 40 percent of the 100 largest metropolitan areas had an overvalued housing market as of July, while 20 percent were undervalued and 40 percent were at value.

Looking ahead, CoreLogic is forecasting a 5.1 percent on a year-over-year basis from July 2018 to July 2019 and a 0.2 percent decline from July to August 2018.

"With increased interest rates and home prices, the CoreLogic Home Price Index is rising at a slower rate than it was a year ago," said Frank Nothaft, Chief Economist for CoreLogic. "While markets in the western part of the country continue to experience rapid home-price growth, many of those metros are overvalued, and will likely experience a slowdown soon."

About the author

Phil Hall

Link copied

Published

Sep 04, 2018

Analysis and Data

Late Pays Rising for Student, Auto Loans

More of those with strong credit records have gone delinquent

Delinquencies are building across two major food groups — student loans and automobile financing — the feed credit scores and are sure to impact the ability of would-be home buyers to obtain a mortgage. The Education Department hasn’t updated its official student loan rep...

Analysis and Data

Buyers Faced Bigger Down Payments in 2024

Buyers paid an average of 14.4% of the purchase price, up from 14.2% in 2023

Down payments reached record highs in 2024, both in dollar amounts and as a share of purchase price, according to a new report from Realtor.com. The typical down payment in Q4 was $30,250, slightly below Q3 but about $3,000 higher than a year earlier. "As inventory recove...