According to CoreLogic, June home prices nationally increased
year over year by 6.7 percent and by 1.1 percent from May. Looking
ahead, the CoreLogic HPI Forecast indicates that home prices will increase by
5.2 percent on a year-over-year basis from June 2017 to June 2018.
As of Q2
2017, the unsold inventory as a share of all households is 1.9 percent, which
is the lowest Q2 reading in over 30 years.
Of the nation’s 10 largest
metropolitan areas measured by population, four were overvalued in June
according to CoreLogic Market Conditions Indicators (MCI) data. These four
metros include Denver-Aurora-Lakewood, CO, Houston-The Woodlands-Sugar Land,
TX, Miami-Miami Beach-Kendall, FL and Washington-Arlington-Alexandria,
DC-VA-MD-WV.
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