Overvaluation Becoming a Bigger Issue for Home Prices -CoreLogic

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Posted To: MND NewsWire

Data from CoreLogic could be sounding a bubble alarm. The company’s Home Price Report for September jumped almost a point from the previous month, and the company says nearly half of the largest metropolitan areas are overvalued. The CoreLogic Home Price Index (HPI) rose 0.9 percent for the third consecutive month in September and the index has averaged 1.1 percent gains over the first nine months of 2017. On a year over year basis, the index was up 7.0 percent tying it with February as the second largest gain so far this year, behind only March with an annual increase of 7.1 percent. The change from August to September was 6.9 percent. The CoreLogic Market Condition Indicators (MCI) data is an analysis of housing values in the country’s 100 largest metropolitan areas based on housing stock…(read more)

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