After a slight drop in appreciation values during the month of September, home values are back on the rise. According to CoreLogic’s Home Price Index, or HPI, the value rose from 6.3% (12 month gain) in September to 6.8% (12 month gain) in October.
The increase is even more significant when comparing month-to-month values. The percentage rise in September was only 0.6%, while the rise from September to October was 1%.
Over the course of the next year, “CoreLogic projects that home prices will increase by 5.2 percent from October 2015 to October 2016 and October 2015 to November 2015 will see a negligible 0.1 percent gain,” according to Mortgage News Daily.
"The rise in home prices over the past few years has largely been a healthy trend. The shadow inventory has been reduced significantly and home equity levels are now approaching pre-recession levels," said Anand Nallathambi, president and CEO of CoreLogic.
Source: Mortgage News Daily