November 2013 CoreLogic Home Prices Up 11.8% Year-over-Year, Rate of Growth Slows

January 7th, 2014
in econ_news, syndication

Econintersect: CoreLogic's Home Price Index (HPI) shows that home prices in the USA in November 2013 are up 11.8% year-over-year (reported up 0.1% month-over-month). The year-over-year growth rate was down from the 12.5% reported last month.

Follow up:

This is the 21th consecutive month of year-over-year increase. Dr. Mark Fleming, chief economist for CoreLogic stated:

The housing market paused as expected in November for the holiday season with very low month-over-month appreciation. Year-over-year home prices are up an impressive 11.8 percent. Our pending HPI projects that home prices will grow by 11.5 percent for the full year 2013. That will make 2013 the best year for home-price appreciation since 2005

/images/z corelogic2.PNG

Anand Nallathambi, president and CEO of CoreLogic stated:

On a year-over-year basis, home prices have appreciated every month in 2013. Twenty-one states and the District of Columbia are now at or within 10 percent of their peaks. The outlook for 2014 looks a bit less robust as regulatory complexities and tight credit can be expected to cool the housing market.

/images/z corelogic3.PNG


Comparison of Home Price Indices - Case-Shiller 3 Month Average (blue line, left axis), CoreLogic (green line, left axis) and National Association of Realtors (red line, right axis)

/images/z existing3.PNG

The way to understand the dynamics of home prices is to watch the direction of the rate of change - and not necessarily whether the prices are getting better or worse. Home prices are improving - but the rate growth of year-over-year price improvement is now flat (not accelerating or decelerating).

Year-over-Year Price Change Home Price Indices - Case-Shiller 3 Month Average (blue bar), CoreLogic (yellow bar) and National Association of Realtors (red bar)

/images/z existing5.PNG

 

Steven Hansen

Source: CoreLogic









Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

















 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved