Home prices increased 2 percent in March compared with February, according to CoreLogic’s Home Price Index report.
Year-over-year, home prices increased 5.9 percent in March. The figure represents the 37th consecutive month of year-over-year home price gains.
Home prices still remain 11 percent below their April 2006 peak. Last month, home prices were 12.2 percent below peak value.
“All signs are pointing to continued price appreciation throughout 2015,” said Anand Nallathambi, president and CEO of CoreLogic, in the report. “In fact, the strong month-over-month gain in March may be a harbinger of accelerating price appreciation as we enter the spring selling season.”
HPI Forecast projects that home prices will increase 0.8 percent month-over-month in April and 5.1 percent from March 2015 to March 2016.
Seven states reached new HPI highs: Colorado, Nebraska, New York, Oklahoma, Tennessee, Texas and Wyoming.
Connecticut, Maryland and Washington D.C. saw home prices decline.
