Home Prices Jump 7.3% Year-Over-Year

CoreLogic®, a leading global property information, analytics and data-enabled solution provider released today (12/2) the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for October 2020. According to the HPI year-over-year home prices nationally increased 7.3%. Making it the fastest annual appreciation since April 2014. When compared to September 2020, home prices increased 1.1% in October. In prepared remarks, Frank Martell, president and CEO of CoreLogic said, “Home buyers have been spurred by record-low mortgage rates and an urgency to buy or upgrade to more space, especially as much of the American workforce continues to work from home. First-time buyers in particular should remain a big part of next year’s home purchases, as the largest wave of millennial’s is heading into prime home-buying years.”