As housingwire informs MHProNews, the latest report from CoreLogic says home prices nationwide rose 5.6 percent in Feb. 2015 over Feb. 2014, but increased only 1.1 percent from Jan. 2015 to Feb. 2015, indicating home price growth may only be temporary. Analysts are concerned that stagnant wage growth may hold back growth in the housing market.
Chief economist for CoreLogic Frank Nothaft says, “Since the second half of 2014, the dwindling supply of affordable inventory has led to stabilization in home price growth with a particular uptick in low-end home price growth over the last few months. From February 2014 to February 2015, low-end home prices increased by 9.3% compared to 4.8% for high-end home prices, a gap that is three times the average historical difference.”
CoreLogic forecasts home prices will rise 0.6 percent from Feb. to March, and 5.1 percent from Feb. 2015 to Feb. 2016. Home prices have risen for 39 consecutive months. ##
(Image credit: etftrends— housing prices rising)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.