Tag Archives: Home Prices

CoreLogic released its Home Price Index (HPI) for February, which found that home prices increased by 12.2 percent from the previous year. The CoreLogic figure includes home prices of distressed sales, and represents 24 months of consecutive year-over-year increases in home prices nationally.

In the Trulia’s latest quarterly Bubble Watch report, Jed Kolko estimates national home prices are still around 5 percent undervalued when examining long-term fundamentals like historical prices, incomes, and rents. While ongoing improvements in prices have brought the market close to a tipping point, he notes that it’s far cry from the 39 percent overvaluation in the first quarter of 2006.

January, 2014 experienced an increase in house prices, which rose by .5 percent on a seasonally adjusted basis from the previous month. According to the Federal Housing Finance Agency (FHFA) House Price Index (HPI), for the year beginning January, 2013 to January 2014, the HPI increased by 7.4 percent. Prices have increased for 23 of the last 24 months, beginning in February, 2012.

The S&P/Case-Shiller Home Price Indices, released Tuesday, showed a 0.8 percent seasonally adjusted month-over-month improvement in January, topping the 0.7 percent gain forecast in a poll of economist conducted by Reuters. On an unadjusted basis, the 20-city composite index posted its third monthly decline at -0.1 percent. The 10-city index ticked up a negligible amount, meanwhile.

A new report issued by the Illinois Association of Realtors (IAR) found a decrease in home sales and an increase in median price in February. The IAR noted that median prices increased 6.9 percent, while home sales decreased by 6.2 percent last month.

The Data & Analytics division of Black Knight Financial Services (BKFS) reported no monthly change in its Home Price Index (HPI) for January. The latest report from BKFS underlines questions as to where other home price reports—including the monthly Case-Shiller Home Price Indices—will land.

Fannie Mae's Economic & Strategic Research Group expects economic growth in the first quarter to come in around 2.0 percent, but thereafter, the economy should pick up. Economic growth for the year is expected at 2.7 percent, according to the research group.

Florida's housing market experienced higher median prices, more new listings, and fewer days on the market in February, according to the latest housing data released by Florida Realtors. A stable inventory helped close sales reach a statewide total of 15,826, a 1.5 percent increase of the previous year.

RE/MAX released its National Housing report for February, which showed that weather and a lack of inventory continued to push homes sales lower and prices higher. Home prices rose 11.6 percent compared to February, 2013. The median price for a home was $180,450, a 4.3 percent increase from the previous month, and continues a streak of 25 months of monthly price increases.

Sales of residential homes in the seven-county metro of Chicago followed a pattern similar to January: rising prices, but the pace of sales slow when compared to the same month last year. According to an analysis by RE/MAX, bitter weather and a small inventory of homes for sale were the primary factors causing reduced sales activity.