21 May Corelogic/Case-Shiller & National Association of Realtors Report Appreciation, but rate of appreciation is slowing
U.S. Home Prices are increasing slower according to two respected sources:
Corelogic/Case-Shiller Home Price Index (HPI) Confirms 11.3 Percent Increase in U.S. Home Prices in 2013 (From Q4 2012 to Q4 2103)
Corelogic/Case-Shiller is Predicting Increase of 5.3% in U.S. Home Prices in 2014 (From Q4 2013 to Q4 2014)
National Assn. of Realtors Reports Home Price Growth Slows in Q1
According to the latest quarterly report by the National Association of Realtors (NAR), year-over-year home price growth continued in most metros, albeit at a slightly lessened pace.
The median existing single-family home price increased in 74 percent of measured markets. Furthermore, 125 out of 170 metropolitan statistical areas (MSAs) showed gains in the first quarter of 2014 compared to Q1 2013. Double-digit increases were realized in 37 areas, representing 22 percent of MSAs. Median prices were lower in 45 areas.
NAR found the national median existing-single family home price was $191,600 in the first quarter, up 8.6 percent from the previous year. The fourth quarter median price rose 10.1 percent from a year earlier.
The five most expensive housing markets in the first quarter for existing single-family homes were San Jose, California ($808,000); San Francisco, California ($679,800); Honolulu, Hawaii ($672,300); Anaheim-Santa Ana, California ($669,800); and San Diego, California ($483,000).