Home prices continued to appreciate on both an annual and a monthly scale in January. CoreLogic said that its Home Price Index, including sales of foreclosed property and short sales, increased 5.7 percent in January compared to one year earlier. On a monthly basis, the increase was 1.1 percent.
CoreLogic previously forecasted that home prices (including distressed sales) would increase 0.4 percent during the first quarter of this year and 5.3 percent from January of this year to January 2016. The HPI excluding distressed sales is projected to increase 0.3 percent and 4.9 percent for the two periods.
President and CEO of CoreLogic, Anand Nallathambi said they continue to see a strong and progressive uptick in home prices and projected that home prices will continue to rise throughout the year and into 2016. Many homeowners have taken advantage of low rates to refinance their homes. Demand has picked up as low mortgage rates and the cut in the FHA annual insurance premium reduce monthly payments for prospective homebuyers.
For all of your real estate needs and if you are ready to take the next step towards purchasing your new home, contact Cook Real Estate Services today at 678-207-1505 or you can e-mail us at info@CookRES.com. Whether you are buying or selling, one of our trusted professionals will be there to help you every step of the way.
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