According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 9.2% year-over-year in December. CoreLogic predicts that home prices will increase on a month-over-month basis by 0.2% through January, and on a year-over-year basis by 2.9% through December 2021.
“Two record lows are fueling home price gains: for-sale inventory and mortgage rates. Prospective sellers with flexible timetables have opted to delay listing their home until the pandemic fades or they are vaccinated. We can expect more inventory to come available in the second half of the year, leading to slowing in price growth toward year-end.” Dr. Frank Nothaft, Chief Economist for CoreLogic.