According to CoreLogic’s most recent home price index, home prices jumped last month, increasing 8.8% from May 2013, making it the 27th week the U.S. has experienced year-over-year home price increases. Although prices have grown, experts expect prices to moderate as inventory and demand remain below average. The president and CEO of CoreLogic, Anand Nallathambi said, “while the rapid rise in prices over the past two years has lifted many homeowners out of negative equity, it has also become a negative factor in buying decisions for prospective purchasers weighing affordability concerns. As we move ahead, a moderation in home price increases over the next twelve months should help cool things down a bit and keep the housing recovery going.” More here
