CoreLogic’s Home Price Index showed that home prices nationwide were essentially flat in November, rising 0.06% from October. Prices were also 3.4% higher when compared to November of last year.
What’s the bottom line?
CoreLogic forecasts that home prices will fall 0.2% in December and rise 3.8% in the year going forward, up significantly from the 2.4% growth forecasted in the previous report. CoreLogic is usually conservative in their forecasts, so the large revision upwards for annual price growth is noteworthy. This latest appreciation data from CoreLogic and other major home price indexes like Case-Shiller and the Federal HousingFinance Agency shows that homeownership continues to provide opportunities for building wealth through real estate.