Posted To: MND NewsWire

Home price increases, as measured by CoreLogic’s Home Price Index (HPI) continued to pick up speed in December on an annual basis. However, they pulled back a bit from the sudden surge they had displayed in November. The HPI, which includes distressed sales, had a national rate of appreciation of 4.0 percent in December compared to a 3.7 percent gain in November. This continues a pattern of accelerating appreciation that began as interest rates fell back from their 2018 highs. On a month-over-month basis the index increased by 0.3 percent. The index had jumped from an 0.1 percent gain in October to 0.5 percent in November. As have other data sources, CoreLogic’s chief economist Dr. Frank Nothaft said, the reaccelerating price growth is hitting hardest at the lower priced tier of homes. “Moderately…(read more)

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Source: Mortgage News Daily