CoreLogic, who provides data from multiple housing market segments, reported that home prices dropped by 0.1% in August, which was lower than their earlier prediction of a 0.2% increase. While price growth has slowed down, it’s still been fairly strong. Year over year, home prices have risen by 3.9% as of August, down from the 4.3% increase reported earlier. The states with the highest appreciations were South Dakota up by 10% and New Jersey up by 9.5%.
CoreLogic expects home prices to go up by 0.1% in September and rise by 2.3% over the next 12 months, though this might be a cautious estimate. Their data on price appreciation has been weaker compared to Case Shiller’s, which is widely seen as the most accurate measure of changes in home values. The August report from Case Shiller is expected later this month.
Source : US home price insights