Prices are Still Rising, Especially for Low-Cost Homes

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Posted To: MND NewsWire

CoreLogic said on Tuesday that its Home Price Index (HPI) for June increased by 3.4 percent on an annual basis. Rather than the steady decline in appreciation that has been evident for about a year, percentage gains are beginning to bounce around. The annual gain in April was 3.5 percent and in May the Index was up 3.6 percent. There was a marked slowdown month-over-month basis, with prices up 0.4 percent compared to 0.9 percent in May. CoreLogic Chief Economist Frank Nothaft commented, “Tepid home sales have caused home prices to rise at the slowest pace for the first half of a year since 2011. Price growth continues to be faster for lower-priced homes, as first-time buyers and investors are both actively seeking entry-level homes. With incomes up and current mortgage rates about 0.8 percentage…(read more)

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