With housing prices on the rise across the nation, and double-digit increases in some markets, CoreLogic quashes any fears of another housing bubble forming any time soon. In fact, according to the CoreLogic Case-Shiller Home Price Indexes released Thursday, the rapid gains are not expected to last.
After a 7.3 percent price gain in 2012, the nation’s housing prices will continue to rise over the next five years but at a slower pace, according to Case-Shiller. The indexes forecast a 3.9 percent annual increase through 2017.
Many of the markets that underwent the greatest price depreciation during the housing crisis are now experiencing the greatest price appreciation. For example, home prices in Phoenix rose almost 24 percent year over year as of the fourth quarter of 2012. Read more ....
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