CoreLogic HPI: Home Prices Continue To Rise

ome prices increased in May, making it the fourth-consecutive month to show a year-over-year increase, according to the Home Price Index (HPI) released by CoreLogic. The latest CoreLogic HPI found that national home prices, including distressed sales, increased by 2.9% in May 2010 compared to May 2009, and it also increased by 3.5% in April 2010 compared to April 2009. Excluding distressed sales, year-over-year prices only increased by 0.9% in May, and while April's non-distressed HPI increased by 0.4%. On a month-over-month basis, May's HPI was 0.9% higher than the April 2010 HPI, but the rate of increase was lower than the 1.3% gain from March 2010 to April 2010. ‘Home price appreciation stabilized as homebuyer tax credit driven sales peaked in late spring,’ says Mark Fleming, chief economist for CoreLogic. ‘But given that the labor market and income growth remain tepid we expect prices to moderate and possibly decline the rest of the year.’ The full May 2010 report, including national, state-level, and top metro-level data can be found [link=—May-2010.aspx]online[/l


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