IRVINE, CA—CoreLogic forecasts that home prices on a national basis will rise 6.3% between April 2014 and April 2015. According to a recent report, firm projects that prices will increase 1% month-over-month from April to May of this year and reports that home prices nationwide, including distressed sales, increased 10.5% in April compared to April 2013.
According to Anand Nallathambi, president and CEO of CoreLogic, “Home prices are continuing to rise as we head into the summer months. The purchase market continues to suffer from a dearth of inventory, which we expect will continue to drive prices up over the year.”
However, Sam Khater, deputy chief economist for CoreLogic, adds that the weakness in home sales that began a few months ago is clearly signaling a slowdown in price appreciation. “The 10.5% increase in April, compared to a year earlier, was the slowest rate of appreciation in 14 months.”
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
