December National Home Prices
Home prices nationwide, including distressed sales, increased year over year by 6.6 percent in December 2017 compared with December 2016 and increased month over month by 0.5 percent in December 2017 compared with November 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 4.3 percent on a year-over-year basis from December 2017 to December 2018, and on a month-over-month basis home prices are expected to decrease by 0.4 percent from December 2017 to January 2018.
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.
Home prices continue to rise as a result of aggressive monetary policy, the economic and jobs recovery and lack of hoursing stock. As home prices and the cost of originating loans rise, affordability continues to erode, making it moore challenging for both first time buyers and moderate income families to buy.