posted on 03 February 2015
Econintersect: CoreLogic's Home Price Index (HPI) shows that home prices in the USA are up 5.0% year-over-year year-over-year (reported down 0.1% month-over-month). There is considerable backward revision in this index which makes monthly reporting problematic. CoreLogic HPI is used in the Federal Reserves's Flow of Funds to calculate the values of residential real estate.
This is the 34th consecutive month of year-over-year increase, and the second month in a row of improving growth. Sam Khater, deputy chief economist at CoreLogic stated:
Anand Nallathambi, president and CEO of CoreLogic stated:
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)
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 - and the rate of growth is now marginally improving after almost a year of declining growth rate.
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)
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