Nationwide single-family home prices increased 2.1 percent month-over-month and 6.7 percent year-over-year in March, according to the CoreLogic Home Price Index.
This is the 49th consecutive month of year-over-year increases, according to CoreLogic.
Washington registered the largest home price increase in March with 13 percent, followed by Colorado and Oregon, which both saw 10 percent increases. No states reported home price depreciation in March.
“Housing helped keep U.S. economic growth afloat in the first quarter of 2016 as residential investment recorded its strongest gain since the end of 2012,” said Frank Nothaft, CoreLogic chief economist, in the report.
Nationwide home prices remain 5.3 percent below their peak values reached April 2006, but CoreLogic predicts they will reach a new peak value in April 2017.
CoreLogic also predicts home prices to increase 0.7 percent in April, and 5.3 percent by March 2017.
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