With 2014 nearing its halfway point, a broad spectrum look at more than 380 markets nationwide confirms
home prices jumped 11-point 3 percent in 2013’s final quarter compared to the year prior. CoreLogic
released its own quarterly Case-Shiller Indexes, which is assembled using the company’s proprietary data
with additional statistics from the FHFA. The analysis differs from the monthly S&P Dow Jones Case Shiller
Indices in that it covers a wider range of markets over a different time frame.
While price percentages nationwide were up by double-digits in Q4, seven cities managed to shoot up into
the 20 percent range year-over-year, with Las Vegas leading at 25-point 6 percent. Even with so many
markets remaining hot, CoreLogic is among those industry analysts calling for a drop-off in price gains
this year. Through December 2014, the company predicts price appreciation will slow to 5-point 3 percent
nationally, though that still comes in above the long-term annual average of 4-point 5 percent.
A decrease in median home prices coupled with steady mortgage rates helped contribute to higher housing
affordability in the first quarter of 2014, according to the National Association of Home Builders Housing
Opportunity Index. The analysis found 65-point 5 percent of new and existing homes sold between January
and March were affordable to families, up slightly from 64-point 7 percent of homes sold in the fourth
quarter of last year. Affordability figures were based on the U.S. median income of 63,900 dollars.
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