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Home Prices Continue to Increase While Inventory Stays Low

By
Real Estate Agent with Success Real Estate Group/Apartment Source

CoreLogic reported their Home Price Index (HPI) showed home prices increased significantly both month-over-month and year-over-year in July.  Nationally, the average cost of a single-family house increased nearly 0.9% from this time last month and 6.7% from this time last year.  The CoreLogic HPI Forecast suggests the trend of higher home prices will continue, leading to another 5% national gain in home prices year-over-year by July 2018.

 

CoreLogic CEO Frank Martell stated “Home prices in July continued to rise at a solid pace with no signs of slowing down.  The combination of steadily rising purchase demand along with very tight inventory of unsold homes should keep upward pressure on home prices for the remainder of this year. While mortgage interest rates remain low, affordability cracks are emerging as over a third of U.S. top cities are now overvalued.”

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

You hit the nail on the head with this blog.  It is interesting to see what happens in 3 years.

 

Sep 12, 2017 04:56 PM