Industry News

CoreLogic: Home Prices Up 3.6 Percent

Phil Hall
Sep 03, 2019
Photo credit: Getty Images/welcomia

Home prices in July increased nationally by 3.6 percent from one year earlier and by 0.5 percent from June, according to new data from CoreLogic.
 
Idaho was the sole state to record a double-digit year-over-year price gain with an 11.5 percent spike, while Connecticut and South Dakota saw declines by 0.3 percent and 3.4 percent, respectively. CoreLogic also determined that 37 percent of top 100 metropolitan areas had an overvalued housing market in July, with 40 percent of the areas being at value and 23 percent being undervalued.
 
Looking ahead, CoreLogic forecast the annual price growth on home sales will increase by 5.4 percent in the 12 months ending July 2020, while the month-over-month measurement from July to August will see a 0.4 percent uptick.
 
“Sales of new and existing homes this July were up from a year ago, supported by low mortgage rates and rising family income,” said Frank Nothaft, Chief Economist at CoreLogic. “With the for-sale inventory remaining low in many markets, the pick-up in buying has nudged price growth up. If low interest rates and rising income continue, then we expect home-price growth will strengthen over the coming year.”
 
Link copied
Published
Sep 03, 2019
Get the NMP Daily
Analysis and Data
New Home Sales Dip In August

Builders offer increased incentives to attract buyers; First-time homeowners gravitate toward new builds as inventory constraints persist.

The U.S. Census Bureau and the Department of Housing and Urban Development (HUD) jointly report that sales of new single-family homes in August 2023 experienced a decline. The sales reached a seasonally adjusted annual rate of 675,000, marking an 8.7% drop from the revised J...

Continue reading
Analysis and Data
Home Prices Reach New Highs In July 2023

Chicago, Cleveland, and New York drive robust growth; S&P CoreLogic Case-Shiller Indices and the FHFA report a consistent positive trajectory despite regional disparities.

U.S. home prices have showcased an upswing in July 2023, according to both the S&P CoreLogic Case-Shiller Indices and the Federal Housing Finance Agency.  According to the S&P CoreLogic Case-Shiller Indices, 19 out of the 20 significant metro markets reported a...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
Layoffs At Better.com

After a rocky market debut, Better.com has laid off staff.

Industry News
Sep 25, 2023
CFPB Issues Guidance On AI In Credit Underwriting

Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.

Industry News
Sep 19, 2023
Intercontinental Exchange Completes Black Knight Acquisition; Births Dark Matter Technologies Under Constellation Software

Rich Gagliano takes the helm at Dark Matter Technologies, poised to lead the future of Empower LOS with a 1,300-strong team, blending startup agility with decades of industry experience.

Industry News
Sep 18, 2023
FHFA Invites Public Engagement On Modernized Credit Score Transition

Stakeholder forums and listening sessions planned to ensure seamless rollout; extended timeline for bi-merge credit report requirement in play.

Industry News
Sep 11, 2023
Desperation Drives Difficulty in Closing Mortgages in California

Analysis reveals California among top 20 toughest states for mortgage closures.

Industry News
Sep 11, 2023
If You Build It, They Will Come

Ratings will go a long way toward growing the market for home equity-backed securities

Industry News
Sep 07, 2023