Home prices are up both year over year and month over month, according to the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for August 2016.
Home prices nationwide, including distressed sales, increased year over year by 6.2 percent in August 2016 compared with August 2015 and increased month over month by 1.1 percent in August 2016 compared with July 2016, according to the CoreLogic HPI.
The CoreLogic HPI Forecast indicates that home prices will increase by 5.3 percent on a year-over-year basis from August 2016 to August 2017, and on a month-over-month basis home prices are expected to increase by 0.4 percent from August 2016 to September 2016.
I believe we will see steady price growth, however, the transactions have been down significantly so there is plenty of good inventory. If the inventory in Naples gets absorbed rapidly during our seasonal months then we will experience a more rapid price valuation on properties for sale.
Some of this blog was taken from a recent artilce published by Corelogic.
Warmest Regards,
Kevin Aizenshtat
Realtor