CoreLogic released its Home Price Index for February, which found that home prices increased by 12.2 percent from the previous year. The figure includes home prices of distressed sales, and represents 24 consecutive months of year-over-year increases in home prices nationally. Month-over-month, prices also showed gains, posting a point-8 percent increase from January. 14 states had double-digit year-over-year growth in February, with 22 states at or within 10 percent of their price peaks.
CoreLogic also announced a new forecast feature to its report, projecting a monthly price increase of 0.5 percent in March. Additionally, home prices with distressed sales are estimated to increase 10.5 percent year-over-year from March, 2013 to March, 2014. Without distressed sales, home prices are projected to increase 9.3 percent year-over-year. The five states with the highest home price appreciation were California, Nevada, Georgia, Oregon, and Michigan.
Consumer complaints to the Consumer Financial Protection Bureau nearly doubled over the course of 2013, the agency revealed in an annual report. Complaint volume last year totaled 163,700, an 80 percent increase from the 91,000 recorded complaints in 2012. Areas of dissatisfaction ranged from bank accounts to debt collection to all manner of loans, including mortgages, which represented the greatest share of complaint volume at 37 percent. At 59 percent, the greatest share of mortgage-related issues came up when borrowers were unable to pay.