Home prices across the United States showed a 7 percent year-over-year gain in September and increased 0.9 percent month-over-month, according to the CoreLogic Home Price Index.
CoreLogic forecasts a decrease in home prices of 0.1 percent between September and October, and a 4.7 percent increase year-over-year in September 2018.
“Heading into the fall, home price growth continues to grow at a brisk pace,” said CoreLogic Chief Economist Frank Nothaft in a statement. “This appreciation reflects the low for-sale inventory that is holding back sales and pushing up prices.”
The states with the largest year-over-year home price gains in September were Washington, 12.5 percent; Utah, 10.5 percent; and Nevada, 9.46 percent. The only state that did not experience an annual gain was West Virginia, which saw home prices tick down 0.27 percent.
