Talking Points
- Home prices nationwide, including distressed sales, increased 5.9 percent in May compared with a year ago, according to the latest price index from CoreLogic. Prices increased at a 1.3 percent pace in May from April.
- Frank Nothaft, Chief Economist for CoreLogic, commented, “Housing remained an oasis of stability in May with home prices rising year over year between 5 percent and 6 percent for 22 consecutive months. The consistently solid growth in home prices has been driven by the highest resale activity in nine years and a still-tight housing inventory.”
- CoreLogic’s forecast shows that home prices will increase by 5.3 percent on a year-over-year basis from May to May 2017. Prices are expected to increase at a slightly slower 0.8 percent pace in June from May.