CoreLogic: Home Prices See Highest Annual Growth Since 2006
According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 13% year-over-year in April. CoreLogic predicts that home prices will increase on a month-over-month basis by 1.1% through May, and on a year-over-year basis by 2.8% through April 2022.
“As older homeowners become more comfortable with listing their homes, they are faced with the reality that if they sell, they may get a smaller home for the same price as what they already have. Rather than decreasing their financial burden and cashing out equity to support their retirement, baby boomers may choose to stay put — which could exacerbate inventory challenges.” Said Frank Martell President and CEO of CoreLogic.
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