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March Home Prices Surge 6.7 Percent Year-Over-Year

Tuesday, May 3, 2016

CoreLogic released the first of the major home price estimates for March on Tuesday.  The company's Home Price Index (HPI) estimates for both January and February were substantially higher both month over month (0.4 to 0.7 percentage points) and year-over-year (1.2-1.5 points) than the other three indices we follow, those from S&P Case-Shiller, the Federal Housing Finance Agency, and Black Knight Financial Services.  They appear to be on track to be higher again this month. 

The company said its Home Price Index (HPI) increased by 6.7 percent compared to March 2015 and was 2.1 percent higher in March of this year than in February.  This is a slight deceleration from the annual increase it reported in January (6.8 percent), but nearly double its estimate of the January to February gain.

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