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Hottest Home Price Appreciation Prior to Spring Selling Season in 9 Years

Wednesday, April 8, 2015

Home prices including distressed sales increased again in February on both a monthly and an annual basis CoreLogic said on Tuesday.  Its nationwide Home Price Index (HPI) rose by 1.1 percent in February compared to the previous month and was 5.6 percent higher than in February 2014.  The latter number marks three full years of consecutive annual price increases.

"Since the second half of 2014, the dwindling supply of affordable inventory has led to stabilization in home price growth with a particular uptick in low-end home price growth over the last few months," said Dr. Frank Nothaft, chief economist for CoreLogic. "From February 2014 to February 2015, low-end home prices increased by 9.3 percent compared to 4.8 percent for high-end home prices, a gap that is three times the average historical difference."

 

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