Nationwide home prices, including distressed sales, increased 6.9 percent between August 2014 and August 2015, according to the CoreLogic HPI U.S. Home Price Insights Report. But home price growth in 2016 should decrease to a 4.3 percent year-over-year gain between August 2015 and August 2016.
“Economic forecasts generally project higher mortgage rates and more single-family housing starts for 2016,” said Frank Nothaft, CoreLogic chief economist, in the report. “These forces should dampen demand and augment supply, leading to a moderation in home price growth.”
Home prices between July and August increased 1.2 percent, but are forecasted to remain unchanged come September’s report.
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