by Bill McBride on 5/03/2016 09:35:00 AM
Tuesday, May 03, 2016
Notes: This CoreLogic House Price Index report is for March. The recent Case-Shiller index release was for February. 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 6.7 Percent Year Over Year in March 2016
Home prices nationwide, including distressed sales, increased year over year by 6.7 percent in March 2016 compared with March 2015 and increased month over month by 2.1 percent in March 2016 compared with February 2016, according to the CoreLogic HPI.Click on graph for larger image.
“Home prices reached the bottom five years ago, and since then have appreciated almost 40 percent,” said Anand Nallathambi, president and CEO of CoreLogic. “The highest appreciation was in the West, where prices continue to increase at double-digit rates.”
This graph shows the national CoreLogic HPI data since 1976. January 2000 = 100.
The index was up 2.1% in March (NSA), and is up 6.7% over the last year.
This index is not seasonally adjusted, and this was a solid month-to-month increase.
The index is still 5.3% below the bubble peak in nominal terms (not inflation adjusted).
The second graph shows the YoY change in nominal terms (not adjusted for inflation).
The YoY increase had been moving sideways over the last year, but has picked up a little recently.
The year-over-year comparison has been positive for forty nine consecutive months.