Posted To: MND NewsWire
While it is clear that the growth of home prices has started to slow, reports on the results of the deceleration are diverging . Earlier this week Black Knight reported its Home Price Index (HPI) was up 0.6 percent in October, today CoreLogic puts the gain at 1.3 percent. The CoreLogic report says its reported October appreciation is a full 1 percentage point lower than the peak posted for April. The annual rate of increase in the HPI for the October was 18 percent, identical to the 12-month growth it reported for September, and the highest recorded in the 45-year history of the index. Incidentally, in April the annual increase was 13 percent, showing the rapid run-up of prices over the summer and early fall. Detached properties (i.e., single-family residences) continue to appreciate at a much…(read more)
