Home Prices Rose 7.2% YOY in December, Says CoreLogic

Irvine, CA, February 7, 2017—Home prices nationwide, including distressed sales, increased year over year by 7.2% in December 2016 compared with December 2015 and increased month over month by 0.8% in December 2016 compared with November 2016, according to the CoreLogic Home Price Index (HPI).

The CoreLogic HPI Forecast indicates that home prices will increase by 4.7% on a year-over-year basis from December 2016 to December 2017, and on a month-over-month basis home prices are expected to increase by 0.1% from December 2016 to January 2017.

“As of the end of 2016, the CoreLogic national index was 3.9% below the peak reached in April 2006,” said Dr. Frank Nothaft, chief economist for CoreLogic. “We expect our national index to rise 4.7% during 2017, which would put homes prices at a new nominal peak before the end of this year.”