RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

Home Prices Rise 5.9 Percent Year-Over-Year

Home News
May 5, 2015
Reading Time: 3 mins read
Home Prices Rise 5.9 Percent Year-Over-Year

home_prices_rise_YoYHome prices nationwide, including distressed sales, increased by 5.9 percent in March 2015 compared with March 2014 according to a recently released CoreLogic® Home Price Index (HPI®). This change represents 37 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 2 percent in March 2015 compared with February 2015.

Including distressed sales in March, 27 states plus the District of Columbia were at or within 10 percent of their peak prices. Seven states, including Colorado, Nebraska, New York, Oklahoma, Tennessee, Texas and Wyoming, reached new home price highs since January 1976 when the CoreLogic HPI started.

Excluding distressed sales, home prices increased by 6.1 percent in March 2015 compared with March 2014 and increased by 2 percent month over month compared with February 2015. Excluding distressed sales, only New Mexico (0.4 percent) showed year-over-year depreciation in March.Distressed sales include short sales and real estate-owned (REO) transactions.

“While we’ve been in the midst of a seller’s market over the past several years, we’re gradually making our way to a more balanced market,” says Damon Caldwell, a Corporate Broker with Realty ONE Group in Las Vegas, Nev. “A gradual increase in property values, low interest rates and new loan programs are all positively affecting our market.”

“The homes for sale inventory continues to be limited while buyer demand has picked up with low mortgage rates and improving consumer confidence,” says Frank Nothaft, chief economist for CoreLogic. “As a result, there has been continued upward pressure on prices in most markets, with our national monthly index up 2 percent for March 2015 and up approximately 6 percent from a year ago.”

The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to increase by 0.8 percent month over month from March 2015 to April 2015and on a year-over-year basis by 5.1 percent from March 2015 to March 2016. Excluding distressed sales, home prices are expected to increase by 0.7 percent month over month from March 2015 to April 2015 and by 4.7 percent year over year from March 2015 to March 2016. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

“All signs are pointing toward continued price appreciation throughout 2015. 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,” says Anand Nallathambi, president and CEO of CoreLogic. “Tight inventories, job growth and the inexorable impact of demographics and household formation are pushing price levels in many states, and especially large metropolitan areas like Dallas, Denver, Houston, Seattle and San Francisco, toward record levels.”

Highlights as of March 2015:

  • Including distressed sales, the five states with the highest home price appreciation were: Colorado (+9.2 percent), South Carolina (+9.1 percent), Kansas (+8 percent), Texas (+8 percent) and Nevada (+7.6 percent).
  • Excluding distressed sales, the five states with the highest home price appreciation were: Kansas (+9.5 percent), Colorado (+8.5 percent), South Carolina (+8.2 percent), Florida (+7.9 percent) and Texas (+7.6 percent).
  • Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to March 2015) was -11 percent. Excluding distressed transactions, the peak-to-current change for the same period was -6.7 percent.
  • Including distressed sales, two states and the District of Columbia experienced home price depreciation at the following rates: Connecticut (-0.6 percent), the District of Columbia (-0.2 percent) and Maryland (-0.1 percent).
  • The five states with the largest peak-to-current declines, including distressed transactions, were: Nevada (-34.7 percent), Florida (-31.5 percent), Rhode Island (-29 percent), Arizona (-27.4 percent) and Connecticut (-25.5 percent).
  • Ninety of the top 100 Core Based Statistical Areas (CBSAs) measured by population showed year-over-year increases in March 2015. The 10 CBSAs that showed year-over-year declines were: Baltimore-Columbia-Towson, MD; Philadelphia, PA; Camden, NJ; Hartford-West Hartford-East Hartford, CT; New Orleans-Metairie, LA; Rochester, NY; Worcester, MA-CT.; Albany-Schenectady-Troy, NY; New Haven-Milford, CT and Wilmington, DE-MD-NJ.

For more information, visit www.corelogic.com.

ShareTweetShare

Related Posts

Real Estate
Agents

The November Issue of Real Estate Magazine Is Now Live

October 30, 2025
Realtor.com
Agents

Realtor.com® Introduces New 360° Satellite View “FlyAround”

October 30, 2025
The Three Stages of Growth: From Proving Yourself to Building Others
Advice

The Three Stages of Growth: From Proving Yourself to Building Others

October 30, 2025
Stellar
Agents

Why Q4 Is a Launchpad, Not a Landing Zone

October 30, 2025
Mortgage Rates Decrease for Fourth Consecutive Week
National

Mortgage Rates Decrease for Fourth Consecutive Week

October 30, 2025
housing
Industry News

Buyer Demand Slows in October as Government Shutdown Persists

October 30, 2025
Please login to join discussion
Tip of the Day

3 Ways to Highlight Your Listing’s Neighborhood

Buyers are purchasing more than just a home when they sign their final offer—they’re buying into the entire neighborhood, so it’s a good idea to get acquainted with it yourself to highlight all of its features to potential buyers. Read more.

Business Tip of the Day provided by

Recent Posts

  • The November Issue of Real Estate Magazine Is Now Live
  • Realtor.com® Introduces New 360° Satellite View “FlyAround”
  • The Three Stages of Growth: From Proving Yourself to Building Others

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2025 Newsmakers
    • 2024 Newsmakers
    • 2023 Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2025 Power Broker
    • 2024 Power Broker
    • 2023 Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X