Tag Archives: CoreLogic

PRAGCAP: Home Prices – Is the Boom Back?

Home Prices – Is the Boom Back?

02/06/2013

If you’re looking for things I’ve been wrong about recently you can chalk housing up on the list.  Last year I said I expected housing’s downside was fairly limited and said that long-term buyers shouldn’t hesitate to buy, but that the market was likely to muddle through in a classic post-bubble workout period.  Now, it might be a bit too early to declare a new boom, but the latest data from CoreLogic certainly looks very positive and has to have us all asking the question – is the next boom already beginning?

More via CoreLogic:

Home prices nationwide, including distressed sales, increased on a year-over-year basis by 8.3 percent in December 2012 compared to December 2011. This change represents the biggest increase since May 2006 and the 10th consecutive monthly increase in home prices nationally.

“December marked 10 consecutive months of year-over-year home price improvements, and the strongest growth since the height of the last housing boom more than six years ago,” said Mark Fleming, chief economist for CoreLogic. “We expect price growth to continue in January as our Pending HPI shows strong year-over-year appreciation.”

“We are heading into 2013 with home prices on the rebound,” said Anand Nallathambi, president and CEO of CoreLogic. “The upward trend in home prices in 2012 was broad based with 46 of 50 states registering gains for the year. All signals point to a continued improvement in the fundamentals underpinning the U.S. housing market recovery.”

clogic Home Prices   Is the Boom Back?

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CoreLogic: Home Prices Jump 7% in November — PragCap

CoreLogic: Home Prices Jump 7% in November

01/15/2013

More good news from the housing front.  It looks like house prices have caught a bit of a bit into the end of the year.  CoreLogic says prices are up 7.4% versus November 2011 and should rise by even more in December:

“Home prices nationwide, including distressed sales, increased on a year-over-year basis by 7.4 percent in November 2012 compared to November 2011. This change represents the biggest increase since May 2006 and the ninth consecutive increase in home prices nationally on a year-over-year basis. On a month-over-month basis, including distressed sales, home prices increased by 0.3 percent in November 2012 compared to October 2012*

The CoreLogic Pending HPI indicates that December 2012 home prices, including distressed sales, are expected to rise by 7.9 percent on a year-over-year basis from December 2011 and fall by 0.5 percent on a month-over-month basis from November 2012 reflecting a seasonal winter slowdown.

“As we close out 2012 the pending index suggests prices will remain strong,” said Mark Fleming, chief economist for CoreLogic. “Given that the recently released Qualified Mortgage rules issued by the Consumer Financial Protection Bureau are not expected to significantly restrict credit availability relative to today, the gains made in 2012 will likely be sustained into 2013.”

cl CoreLogic: Home Prices Jump 7% in November

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