U.S. home prices are up 6.3 percent year over year in November 2015, according to a report from CoreLogic.

The prices increased by .5 percent from the previous month, CoreLogic reports. The company’s HPI Forecast projects that home prices will increase by 5.4 percent year over year from November 2015 to November 2016. Month over month, home prices are expected to remain flat from November 2015 to December 2015.

“Heading into 2016, home price growth remains in its sweet spot as prices have increased between 5 and 6 percent on a year-over-year basis for 16 consecutive months,” Dr. Frank Nothaft, chief economist for CoreLogic, said in a statement. “Regionally we are beginning to see fissures, with slowdowns in some Texas and California markets, but the northwest and southeast remain on solid footing.”

“Many factors, including strong demand and tight supply in many markets, are contributing to the long-sustained boom in prices and home equity which is a very good thing for those owning homes,” Anand Nallathambi, president and CEO of CoreLogic, said in a statement. “On the flip side, prices have outstripped incomes for several years in a number of regions so, as we enter 2016, affordability is becoming more of a constraint on sales in some markets.”

US Home Prices Increase Year Over Year In November

by Banker & Tradesman time to read: 1 min
0