Posted To: MND NewsWire

Home prices increased on an annual basis by 3.5 percent in October according to CoreLogic’s Home Price Index (HPI). The index rose 0.2 percent from the previous month. The rate of increase in home prices appears to have stabilized for the moment. After trending higher for several years, the HPI hit a recent peak of 6.62 percent in April 2018, then decelerated to 3.53 percent by the following March. Since then it has moved back and forth over a narrow range, 3.3 to 3.6 percent. The highest annual gain was again in Idaho at 10.9 percent. Maine and Indiana followed with increases of 7.5 percent and 7.1 percent respectively. Among metro areas, Denver saw the highest appreciation at 3.4 percent. Frank Nothaft, CoreLogic’s chief economist, said “Local home-price growth can deviate widely from the…(read more)

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Source: Mortgage News Daily