May 2016 Real Estate Market Update

HOME PRICES UP 5.9 PERCENT YEAR OVER YEAR IN MAY

CoreLogic released its CoreLogic Home Price Index (HPI) and HPI Forecast data for May 2016 which shows home prices are up both year over year and month over month.

Home prices nationwide, including distressed sales, increased 5.9 percent year over year in May 2016 compared with May 2015 and increased 1.3 percent month over month in May 2016 compared with April 2016, according to the CoreLogic HPI.

The CoreLogic HPI Forecast indicates that home prices will increase 5.3 percent on a year-over-year basis from May 2016 to May 2017, and on a month-over-month basis home prices are expected to increase 0.8 percent from May 2016 to June 2016. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

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