Home prices in June increased 6.5 percent compared with prices in June 2014, according to the CoreLogic Home Price Index and rose 1.7 percent compared with prices in May.
“The current cycle of home price appreciation is closing in on its fourth year with no apparent end in sight,” said Anand Nallathambi, president and CEO of CoreLogic, in the report. “Pent up buying demand and affordability, together with higher consumer confidence buoyed by a more robust labor market, are a potent mix fueling a 6.5 percent jump in home prices through June with more increases likely to come.”
The CoreLogic report predicts that home prices will increase 0.6 percent month-over-month in July and 4.5 percent year-over-year in June 2016.
Nationwide home prices still remain 7.4 percent below their peak prices set in April 2006.
