February saw increases in home prices both year-over-year and month-over-month, according to CoreLogic – and most of the increase has been from homes in the lower price tiers.
Home prices, inclusive of distressed sales, rose by 7% year over year in February and 1% from January.
Home prices are expected to go up by 4.5% over the next 12 months, according to CoreLogic.
“Home prices continue to grow at a torrid pace so far in 2017 and these gains are likely to continue well into the future,” said Frank Martell, president and CEO of CoreLogic. “Home prices are at peak levels in many major markets and the appreciation is being driven by a number of dynamics—high demand, stronger employment, lean supplies and affordability—that will continue to play out in the coming years. The CoreLogic Home Price Index is projecting an additional 5 percent rise in home prices nationally over the next 12 months.”
Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052
With over 30 years of experience helping families call Las Vegas "home!"
Related Blog Posts
Retiring to the Las Vegas Valley! The buyers were very particular about the home they were buying. They absolutely needed parking for their RV, which can be hard to find in a certain price range. They looked at numerous resales and the buyer finally decided to consider a new build. Their agent, Tami Jacobson of the...
Credit Suisse just released their own graphic on the Las Vegas housing market, indicating higher real estate prices can be expected with the continuing low inventory. Credit Suisse also predicted an increase in new home sales....
Tired of losing out to cash buyers on the Las Vegas homes of your dreams? You must get completely pre-approved for a loan before submitting an offer, and you must be able to close quickly once that offer has been submitted. So we found a mortgage lender who could help our clients compete in multiple offer situations.So...
The misconception about down payments continue to hinder millennials from the possibility of owning a home.An outlook study conducted by United Shore Financial Services along with Michigan State University found out that a whopping 96% of its respondents became more interested in purchasing a home after finding out tha...
The Tonnesen Team is sponsoring a great upcoming charity event that will benefit children’s cancer. Kicking Cancer will be this Sunday, October 23rd beginning at 3pm. It will be a fun game of FootGolf, which is soccer on the golf course. There will be raffle prizes and food as well. ...