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Hottest Home Price Appreciation Prior to Spring Selling Season in 9 Years

Home prices including
distressed sales increased again in February on both a monthly and an annual
basis CoreLogic said on Tuesday.  Its nationwide
Home Price Index (HPI) rose by 1.1 percent in February compared to the previous
month and was 5.6 percent higher than in February 2014.  The latter number marks three full years of
consecutive annual price increases.

“Since the second half of
2014, the dwindling supply of affordable inventory has led to stabilization in
home price growth with a particular uptick in low-end home price growth over
the last few months,” said Dr. Frank Nothaft, chief economist for CoreLogic. “From
February 2014 to February 2015, low-end home prices increased by 9.3 percent
compared to 4.8 percent for high-end home prices, a gap that is three times the
average historical difference.”

 

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