CoreLogic: Home Prices Up Four Percent – NMP Skip to main content

CoreLogic: Home Prices Up Four Percent

Phil Hall
Feb 04, 2020
Photo credit: Getty Images/Jeff Manes

Home prices in December recorded a four percent year-over-year increase and 0.3 percent month-over-month uptick, according to new data from CoreLogic.
 
Among the states, Idaho had the greatest year-over-year price gains with a 9.9 percent upswing, while Connecticut had the weakest with an anemic 0.2 percent rise. CoreLogic also reported that 34 percent of the nation’s 100 largest metropolitan areas had an overvalued housing market as of December, while 40 percent were at value and 26 percent were undervalued.
 
Looking ahead, CoreLogic forecast an annual home price growth of 5.2 percent from December 2019 to December 2020 and a 0.1 percent uptick from December 2019 to January 2020, which would mark a new peak in prices since the last recorded peak in April 2006.
 
“Moderately priced homes are in high demand and short supply, pushing up values and eroding affordability for first-time buyers,” said Frank Nothaft, chief economist at CoreLogic. “Homes that sold for 25 percent or more below the local median price experienced a 5.9 percent price gain in 2019, compared with a 3.7 percent gain for homes that sold for 25 percent or more above the median.”

 
Published
Feb 04, 2020
Scathing Report Critiques The Appraisal Industry's Governance Issue

The report took issue with the Appraisal Foundation for its lack of inclusivity and diversity enforcement. 

Industry News
Jan 27, 2022
UWM Offers No-Cost Appraisals

UWM is crediting borrowers up to $600 for appraisal costs on all conventional, government and jumbo purchase loans for primary homes.

Industry News
Jan 27, 2022
CrossCountry Mortgage Hires Award-Winning Broker

Kathryn Pedersen, Yampa Valley's top-rated mortgage broker, joined CrossCountry Mortgage as the originating branch manager for its office located in the Fox Creek Business Park, 169 Hilltop Parkway, Suite 206B, in Steamboat Springs, CO.

Community
Jan 27, 2022
Revolution Mortgage Opens New Texas Branch

Ohio-based Revolution Mortgage opened up a new location in Lewisville, TX, led by branch manager Christina Luna.

Industry News
Jan 27, 2022
Fintech Startup Tomo Doubles Mortgage Footprint

Adds Colorado, Connecticut & Florida; now serves nearly a quarter of the U.S. market.

Industry News
Jan 27, 2022
Ginnie Mae Exits The Stone Age And Embraces Blockchain

'Some of the procurement stuff that we do, maybe it’s archaic, maybe it needs to be innovated.'

Industry News
Jan 26, 2022