Tuesday, February 02, 2016

CoreLogic: House Prices up 6.3% Year-over-year in December

by Bill McBride on 2/02/2016 09:11:00 AM

Notes: This CoreLogic House Price Index report is for December. The recent Case-Shiller index release was for November. The CoreLogic HPI is a three month weighted average and is not seasonally adjusted (NSA).

From CoreLogic: CoreLogic US Home Price Report Shows Home Prices Up 6.3 Percent Year Over Year in December 2015

Home prices nationwide, including distressed sales, increased year over year by 6.3 percent in December 2015 compared with December 2014 and increased month over month by 0.8 percent in December 2015 compared with November 2015, according to the CoreLogic HPI.
“Nationally, home prices have been rising at a 5 to 6 percent annual rate for more than a year,” said Dr. Frank Nothaft, chief economist for CoreLogic. “However, local-market growth can vary substantially from that. Some metropolitan areas have had double-digit appreciation, such as Denver and Naples, Florida, while others have had price declines, like New Orleans and Rochester, New York.”
emphasis added
CoreLogic House Price Index Click on graph for larger image.

This graph shows the national CoreLogic HPI data since 1976. January 2000 = 100.

The index was up 0.8% in December (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 shows the YoY change in nominal terms (not adjusted for inflation).

CoreLogic YoY House Price Index The YoY increase had been moving sideways over the last year, but has picked up a recently.

The year-over-year comparison has been positive for forty six consecutive months.