Home prices nationwide, including distressed sales, increased year over year by 6.9 percent in August 2017 compared with August 2016 and increased month over month by 0.9 percent in August 2017 compared with July 2017 (revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results).

Forecast Prices Nationally
The CoreLogic HPI Forecast indicates that home prices will increase by 4.7% on a year-over-year basis from August 2017 to August 2018, and on a month-over-month basis home prices are expected to increase by 0.1% from August 2017 to September 2017.

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.

Nationally, the year-over-year home price changed by 6.9%. Most states experienced increases, except West Virginia.

Frank Martell of CoreLogic stated, “Nearly half of the nation’s largest 50 markets are overvalued. The lack of real estate affordability has spread beyond the typically expensive coasts into the interior of the nation, hitting such cities as Denver, Nashville, Austin and Dallas.”

NJ Percent Change Aug 2017 Aug 2018
Year-over-Year        2.2%           5.4%

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If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.