The Home Price Index increased 6.2 percent between April 2015 and April 2016, the 51st straight month of year-over-year increases, according to the CoreLogic HPI report.
Month-over-month, the HPI in April increased 1.8 percent.
“Low mortgage rates and a lean for-sale inventory have resulted in solid home-price growth in most markets,” said Frank Nothaft, CoreLogic chief economist, in a statement. “An expected gradual rise in interest rates and more homes offered for sale are expected to moderate appreciation in the coming year.”
CoreLogic predicts a 0.9 percent month-over-month increase in May 2016 and a 5.3 percent year-over-year increase by April 2017.
Single-family home prices are expected to reach a new peak level in September 2017, according to the report.
The five states registering the highest year-over-year home price appreciation in April were Washington, 10.6 percent; Oregon, 10.3 percent; Colorado, 9.5 percent; Utah, 8 percent; and Nevada, 7.9 percent.
The five states farthest from their peak values are Nevada, down 35.5 percent; Florida, down 24.9 percent; Arizona, down 24.5 percent; Rhode Island, down 24.2 percent; and Maryland, down 23.5 percent.
