IRVINE, Calif.—Home prices nationwide, including distressed sales, increased by 6.8% in October 2015 compared with October 2014 and increased by 1% in October 2015 compared with September 20115, according to the CoreLogic Home Price Index and HPI Forecast data for October 2015.
The CoreLogic HPI Forecast indicates that home prices are projected to increase by 5.2% on a year-over-year basis from October 2015 to October 2016, and the projected month-over-month gain is negligible (0.1%) from October 2015 to November 2015. 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.
“Many markets have experienced a low inventory of homes for sale along with strong buyer demand, which is sustaining upward pressure on home prices. These conditions are likely to persist as we enter 2016,” said Dr. Frank Nothaft, chief economist for CoreLogic. “A year from now, as we finish out October 2016, we expect the CoreLogic national Home Price Index appreciation to slow to 5.2%.”