Home prices nationwide, including distressed sales, increased 12.4 percent on a year-over-year basis in July 2013 compared to July 2012 according to CoreLogic – the 17th consecutive monthly year-over-year increase in home prices nationally. However, home prices may be showing some signs of slowing in the coming months, according to two housing reports recently released.
CoreLogic experts predict that home prices will rise by 12.3 percent year over year in August.
But home prices likely will start to curtail in the second half of the year, says Mark Fleming, chief economist for CoreLogic.
“Price growth is expected to slow as seasonal demand wanes and higher mortgage rates have a marginal impact on home purchase demand," Fleming notes.
Source: “Home price appreciation flame begins to weaken,” HousingWire (Sept. 3, 2013)
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