by Bill McBride on 7/07/2015 11:59:00 AM
Tuesday, July 07, 2015
Notes: This CoreLogic House Price Index report is for May. The recent Case-Shiller index release was for April. The CoreLogic HPI is a three month weighted average and is not seasonally adjusted (NSA).
From CoreLogic: CoreLogic Reports National Homes Prices Rose by 6.3 Percent Year Over Year in May 2015
CoreLogic® ... today released its May 2015 CoreLogic Home Price Index (HPI®) which shows that home prices nationwide, including distressed sales, increased by 6.3 percent in May 2015 compared with May 2014. This change represents 39 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 1.7 percent in May 2015 compared with April 2015.Click on graph for larger image.
Including distressed sales, 33 states and the District of Columbia were at or within 10 percent of their peak prices in May 2015. Ten states and the District of Columbia reached new price peaks not experienced since January 1976 when the CoreLogic HPI started. These states include Alaska, Colorado, Iowa, Nebraska, New York, North Carolina, Oklahoma, Tennessee, Texas and Vermont.
Excluding distressed sales, home prices increased by 6.3 percent in May 2015 compared with May 2014 and increased by 1.4 percent month over month compared with April 2015. ...
This graph shows the national CoreLogic HPI data since 1976. January 2000 = 100.
The index was up 1.7% in May (NSA), and is up 6.3% over the last year.
This index is not seasonally adjusted, and this was a solid month-to-month increase.
The second graph is from CoreLogic. The year-over-year comparison has been positive for thirty nine consecutive months suggesting house prices bottomed early in 2012 on a national basis (the bump in 2010 was related to the tax credit).
The YoY increase had been moving sideways over most of the last year, but has picked up a little recently.