Compared to June, July home prices in Wichita were up 0.5 percent. The CoreLogic HPI Forecast is attained by using a combination of CoreLogic HPI and other economic variables.
Advertisement
US home prices increased 1.1% in July compared with June and increased 6% compared with July 2015, according to CoreLogic’s home price index report.
CoreLogic’s monthly price index is based on same-home comparisons, computing the average price change of all homes sold compared to each home’s previous sale price. Frank Nothaft, chief economist for CoreLogic.
CoreLogic said the greatest home price gain in July was in the Denver area, where prices were ahead 10 percent year-over-year.
Only Connecticut experienced year-over-year home price depreciation, with a 1.2 percent decline, while OR and Washington registered double-digit growth with 11.2 percent and 10.2 percent increases, respectively.
While markets in the West for the most part experienced healthy home price appreciation in July, markets in the East have been struggling.
In a one-month period, from June to July, prices locally rose 1.6 percent. Home prices, including sales of distressed homes, are expected to reach a new peak in October 2017, CoreLogic said.
Advertisement
Prices, including distressed sales, have risen over the past year the fastest in OR (up 11.2 percent), Washington (up 10.2 percent) and Colorado (9.3 percent).
