CoreLogic, an analytics and real estate services provider, released a report showing national home prices up in May. According to the CoreLogic's home price index, prices rose 2.9 percent from a year ago and 0.9 percent from the month before. Distressed sales, or homes 75 percent below the median, are fueling the increases. Still, Mark Fleming, chief economist for CoreLogic, says the stabilization is temporary and expects prices to moderate and possibly decline the rest of the year due to continuing trouble in the labor market. More here and here.
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