July 2014 CoreLogic Home Prices Up 7.5% Year-over-Year, Shifting Dynamics

September 2nd, 2014
in econ_news, syndication

Econintersect: CoreLogic's Home Price Index (HPI) shows that home prices in the USA in July 2014 are up 7.4% year-over-year (reported up 1.2% month-over-month). The year-over-year growth rate was down insignificantly from the 7.5% reported last month.

Follow up:

This is the 29th consecutive month of year-over-year increase. Sam Khater, deputy chief economist for CoreLogic stated:

While home prices have clearly moderated nationwide since the spring, the geographic drivers of price increases are shifting. Entering this year, price increases were led by western and southern states, but over the last few months northeastern and midwestern states are migrating to the forefront of home price rankings.

/images/z corelogic2.PNG

Anand Nallathambi, president and CEO of CoreLogic stated:

Home prices continued to march higher across much of the U.S. in July. Most states are reaching price levels not seen since the boom year of 2006. Our data indicates that this trend will continue, with more states hitting new all-time peaks this year and into 2015 as the recovery continues.

/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 declining.

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 - 2016 Econintersect LLC - all rights reserved