Entry-Level Homes Driving Price Appreciation

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Posted To: MND NewsWire

CoreLogic said on Tuesday that home prices rose in October by 0.9 percent compared to September and were 7.0 percent higher than 12 months earlier. These increases are identical to those registered on the company’s Home Price Index (HPI) for September. October was the fourth straight month that the HPI had increased by 0.9 percent. Monthly increases have averaged 1.08 percent over the first 10 months of 2017. The annual change for the year-to-date has averaged 6.87 percent. “Single-family residential sales and prices continued to heat up in October,” said Dr. Frank Nothaft, chief economist for CoreLogic. “On a year-over-year basis, home prices grew in excess of 6 percent for four consecutive months ending in October, the longest such streak since June 2014. This escalation in home prices reflects…(read more)

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