Home Prices Post 6.8% Annual Gain
mandy • April 5, 2016
CoreLogic reports that home prices, including distressed sales, rose by 6.8 percent from February 2015 to February 2016. Month-over-month prices also were up 1.1 percent from January to February. Frank Nothaft, chief economist for CoreLogic, said the “economic forces” of lower home loan rates and strong job creation will “sustain home prices during the spring and support the 5.2% home price appreciation CoreLogic projected” for this year.
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Home price gains continued in February, though moderation has been seen in some regions.
A sharp decline in the West sent New Home Sales lower by 1.5 percent in March.
Inflation pressures remained tepid in February as measured by the Core Personal Consumption Expenditures (PCE).
