Affordability Gripes Slowing--But Not Derailing--Price Growth

Posted To: MND NewsWire

CoreLogic says its Home Price Index (HPI) for February reflected an increase of 0.7 percent from January to February and that home prices nationwide were up by 4.0 percent. The monthly gain was higher than in January (up 0.1 percent), perhaps reflecting the approaching spring market, but there is definite deceleration on an annual basis. In February the year-over-year change was 4.0 percent, down from 4.4 percent in January and significantly lower than the February 2017 to February 2018 change, 6.7 percent. North Dakota was the only state that did not have an annual increase in home prices. The largest gains were in Idaho (10.2%), Nevada (8.9%) and Utah (8.7%). Frank Nothaft, CoreLogic's chief economist commented, "During the first two months of the year, home-price growth continued to decelerate...(read more)

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