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CoreLogic - Home Prices Up 6.9% Year Over Year in January

Forecast Projects Increase of 5.5 Percent by January 2017

Home prices nationwide, including distressed sales, increased year over year by 6.9 percent in January 2016 compared with January 2015 and increased month over month by 1.3 percent in January 2016 compared with December 2015*, according to the CoreLogic HPI.

The CoreLogic HPI Forecast indicates that home prices will increase by 5.5 percent on a year-over-year basis from January 2016 to January 2017, and on a month-over-month basis home prices are expected to increase 0.5 percent from January 2016 to February 2016. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

“While the national market continues to steadily improve, the contours of the home price recovery are shifting,” said Dr. Frank Nothaft, chief economist for CoreLogic. “The northwest and Rocky Mountain states have experienced greater appreciation and account for four of the top five states for home price growth.”

“Heading into the spring buying season, home prices continue to rise across much of the country,” said Anand Nallathambi, president and CEO of CoreLogic. “With rates staying low for now and continued solid job and income growth, the spring buying season is shaping up to be a good one.”

Full-month January 2015 national data can be found at the CoreLogic Home Price Insights page.

*December data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.

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