Home price gains slow to 7.5% as forecast calls for further decline | North Salem Real Estate

Home prices nationwide, including distressed sales, increased 7.5% in June 2014 compared to June 2013, reflecting a general slowdown that continues and will worsen through June 2015.

The CoreLogic (CLGX) home price index forecast indicates that home prices, including distressed sales, are projected to increase 0.7% month over month from June 2014 to July 2014 and, on a year-over-year basis, by 5.7% from June 2014 to June 2015.

"Home price appreciation continued moderating in June with its slight month-over-month increase," said Mark Fleming, chief economist for CoreLogic. "This reversion to normality that we are finally experiencing is expected to continue across the country and should further alleviate concern over diminishing affordability and the risk of another asset bubble."

The good news is this change represents 28 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1% in June 2014 compared to May 2014.




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http://www.housingwire.com/articles/30915-home-price-gains-slow-to-75-as-forecast-calls-for-further-decline