Posted To: MND NewsWire

CoreLogic’s Home Price Index for March showed that the spring market started out strongly, with price appreciation from the previous month of 1.3 percent compared to a gain of 0.6 percent from January to February. The annual increase was 4.5 percent, a half point more than the year-over-year increase the previous month That, however, is history. The company, in its first official HPI forecast since a national emergency declaration regarding the COVID-19 pandemic, predicts that home price growth will fall to an annual rate of 0.5 percent by March 2021. It also estimates that given the strong market for homes that existed at the beginning of the year, home prices did not plummet precipitately immediately after the virus began to spread and the country official entered a recession. Despite a decline…(read more)

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Source: Mortgage News Daily