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Home Price Movement Showing up for 2017
Subdued home price growth estimates for 2017 are increasing as end-of-year data becomes available, indicating a slight showing of movement in the year ahead.
CoreLogic, most recently, bumped up its price projection to 4.7 percent year-over-year based on November 2016 prices, which were 1.1 percent higher month-over-month and 7.1 percent higher year-over-year.
The 4.7 percent projection is an increase from CoreLogic's 4.6 percent projection given in October.
"Last summer's very low mortgage rates sparked demand, and with for-sale inventories low, the result has been a pick-up in home price growth," says Dr. Frank Nothaft, chief economist for CoreLogic.
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