The annual increase rate of home prices nationwide is holding at around 5 to 6 percent according to CoreLogic. As shown in HPI forecast, home prices are not increasing as fast compared to the national average.
According to Housingwire, the data report was revealed by CoreLogic, the leading provider of consumer, financial and property information, analytics and services to businesses and the government. On a monthly basis, housing rates are up by 0.8 percent which means that home prices nationwide are increasing annually at about 6.3 percent in December 2015 compared to the same month in 2014.
Chief economist of CoreLogic, Frank Nothaft said that "Nationally, home prices have been rising at a 5 percent to 6 percent annual rate for more than a year." He also added that, "However, local-market growth can vary substantially from that. Some metropolitan areas have had double-digit appreciation, such as Denver and Naples, Florida, while others have had price declines, like New Orleans and Rochester, New York."
Based on CoreLogic's HPI forecast, home prices are expected to rise for about 0.2 percent from December 2015 to January 2016 on a monthly basis. Furthermore, housing rates will rise by 5.4 percent on a yearly basis from December 2015 to December 2016.
Meanwhile in a report by Abruzzo.TV, housing markets nationwide have posted similar outcomes last month, including distressed sales and rising annually for about 6.3 percent, as per CoreLogic's report.
The biggest sales came from major metropolitan markets which have a 12.9 percent yearly home increase in major areas such as San Francisco; coming in second is Denver with about 11.4 percent. However, Colorado has the biggest annual housing rate increase with almost 10.4 percent, followed in line by Washington with a 10.3 percent, while Louisiana is decreasing at 2.9 percent and Mississippi 2.8 percent.