Econintersect: CoreLogic’s Home Price Index (HPI) shows that home prices in the U.S. in April 2013 are up 12.1% year-over-year (increased 3.2% month-over-month). This is the 14th consecutive month of year-over-year increase.
Dr. Mark Fleming, chief economist for CoreLogic stated:
Home price growth continues to surprise to the upside with and impressive 12.1 percent gain year over year in April.
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Anand Nallathambi, president and CEO of CoreLogic stated:
For the second consectutive month, all 50 states registered year-over-year home price gains, excluding sales of distressed homes. We expect this trend to continue, bolstered by tight supplies and pent-up buyer demand.
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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)
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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 – with the CoreLogic home prices currently showing the largest price gains.
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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For the complete report, click on the hyperlink below.
Source: CoreLogic
