July 2018 National Home Prices
Home prices nationwide, including distressed sales, increased year over year by 6.2 percent in July 2018 compared with July 2017 and increased month over month by 0.3 percent in July 2018 compared with June 2018 (revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results).
Forecast Prices Nationally
The CoreLogic HPI Forecast indicates that home prices will increase by 5.1 percent on a year-over-year basis from July 2018 to July 2019, and on a month-over-month basis home prices are expected to decrease slightly by 0.2 from July 2018 to August 2018.
The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.
“With increased interest rates ad home prices, the CoreLogic Home Price Index is rising at a slower rate than it was earlier this year. While markets in the western part of the country continue to experience rapid home-price growth, many of those metros are over-valued, and will likely experience a slowdown soon.”
-Frank Nothaft / Chief Economist at CoreLogic
The CoreLogic Home Price Insights report features an interactive view of our Home Price Index product with analysis through July 2018 with Forecasts from August 2018 including live maps.
CoreLogic HPI is designed to provide an early indication of home price trends. The indexes are fully revised with each release and employ techniques to signal turning points sooner.
CoreLogic HPI Forecasts (with a thirty-year forecast horizon), project CoreLogic HPI levels for two tiers: Single-Family Combined (both Attached and Detached) and Single-Family Combined excluding distressed sales.
The report is published monthly with coverage at the national, state and Core Based Statistical Area (CBSA)/Metro level and includes home price indices (including distressed sale); home price forecast and market condition indicators. The data incorporates more than 40 years of repeat-sales transactions for analyzing home price trends.
**Excepts from CoreLogic Insights via Economic Focus**