2018 Charts of the Week
Housing Prices Rise
Chart of the Week for May 4, 2018 - May 10, 2018
CoreLogic produces a monthly index of single-family housing prices in the U.S. The index's geographic coverage includes all U.S Census divisions with more than 1,000 counties and 6,000 zip codes. The chart above shows the percentage change in the index for the previous 12 months.
The 1.4% increase for March 2018 was the biggest month-over-month increase since spring 2013. On a year-over-year basis the index rose 7.0%, which was the fastest annual growth rate since spring 2014. The March increase also marked 74 consecutive months of year-over-year growth, which has not happened since before the Great Recession. Among large metropolitan areas, Las Vegas (12.6%), San Francisco (10.8%), and Denver (8.9%) registered the largest year-over-year increases. Economists note that existing-home listings cannot keep up with demand for housing, and sellers are listing their homes at higher prices. Even with expected higher mortgage rates, economists are calling for modest price appreciation over the next couple of years.
Posted by: sarah_oz@yahoo.com
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