Home Prices Rose 7% YOY in September

Irvine, CA, November 7, 2017-Home prices nationally increased year over year by 7% from September 2016 to September 2017, and on a month-over-month basis, home prices increased by 0.9% in September 2017 compared with August 2017, according to the CoreLogic Home Price Index (HPI).

Looking ahead, the CoreLogic HPI Forecast indicates that home prices will increase by 4.7% on a year-over-year basis from September 2017 to September 2018, and on a month-over-month basis home prices are expected to decrease by 0.1% from September 2017 to October 2017.

“Heading into the fall, home price growth continues to grow at a brisk pace,” said Dr. Frank Nothaft, chief economist for CoreLogic. “This appreciation reflects the low for-sale inventory that is holding back sales and pushing up prices. The CoreLogic Single-Family Rent Index rose about 3% over the last year, less than half the rise in the national Home Price Index.”