Home values have risen for the sixth consecutive month, according to a new report by CoreLogic. The CoreLogic Home Price Index (HPI™) and HPI Forecast™ shows that home prices are up 7.1% across the nation in November 2016 compared with November 2015, and increased month over month by 1.1%.

The report also predicts that home values will go up by 4.7% from November 2016 to November 2017, and 0.1% from November 2016 to December 2016.

Dr. Frank Nothaft, the chief economist for CoreLogic had said this about the report, “Last summer’s very low mortgage rates sparked demand, and with for-sale inventories low, the result has been a pickup in home-price growth. With mortgage rates higher today and expected to rise even further in 2017, our national Home Price Index is expected to slow to 4.7 percent year over year by November 2017.

The president and CEO of CoreLogic, Anand Nallathambi, added, “Home prices continue to march higher, with home prices in 27 states above their pre-crisis peak levels. Nationally, the CoreLogic Home Price Index remains 4 percent below its April 2006 peak, but should surpass that peak by the end of 2017.”

Nallathambi further stated, “Home prices continue to march higher, with home prices in 27 states above their pre-crisis peak levels. Nationally, the CoreLogic Home Price Index remains 4 percent below its April 2006 peak, but should surpass that peak by the end of 2017.”

You can view the full report at the CoreLogic Home Price Insights page.

Erik Sandstrom
LoanSafe's Mortgage Expert
I'm a Senior Loan Officer and LoanSafe mortgage expert. If you need a live rate quote, or need help getting a new mortgage, please call me direct anytime at 619-379-8999.