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CoreLogic’s Home Price Index indicates September home prices to rise by 12.7 percent
Thursday, October 03, 2013
CoreLogic released its August Home Price Index which reported home prices nationwide increased 12.4 percent on a year-over-year basis in August 2013 compared to August 2012. This change represents the 18th consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.9 percent in August 2013 compared to July 2013. Excluding distressed sales, home prices increased on a year-over-year basis by 11.2 percent in August 2013 compared to August 2012.
The CoreLogic Home Price Index (HPI) indicates September 2013 home prices are expected to rise by 12.7 percent on a year-over-year basis from September 2012 and rise 0.2 percent on a month-over-month basis from August 2013.
“Home price gains were negligible month over month in August—an expected decrease in the pace of appreciation as housing enters the off-season,” said Mark Fleming, chief economist for CoreLogic. “While prices increased more than 12 percent on a year-over-year basis, the month-to-month change is more telling of this year’s late summer trend.”
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