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Home Price Index Audio Clip: June 2017

Molly Boesel    |    Audio

 

The CoreLogic HPI for June 2017 showed that national prices appreciated 6.7 percent from a year ago and are expected to increase 5.2 percent over the next year. Prices are just 0.9 percent below the 2006 peak, and are predicted to be back to the 2006 peak in the next few months. It’s been a long road back from the home price bottom. National prices fell nearly 33 percent from the 2006 peak to the 2011 trough, and since 2011 have risen 49 percent. Some states were hit particularly hard by the financial crisis. There are six states that had larger peak-to-trough declines than the national average, and none of these states has returned to their price peak. Nevada saw a 60 percent peak-to-trough decline – the largest of any state. Those buyers who bought at the peak have yet to regain their value. However, home prices in Nevada have also risen the most of any state since bottoming out. Buyers who bought at the bottom of the market in 2012 have seen appreciation of 82 percent, making for huge amounts of equity.

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