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
by Lisa Albarian If you’re a Foodie or if you simply enjoy food, Las Vegas has a lot to offer! If you haven’t experienced the whole Food Truck thing, be sure to check this out: Coming up November 2 – 4 at The Silverton (just south of The Strip) is the Las Vegas Foodie Fest. If you watched the current season of...
While exact details have not yet been announced, it seems that help for some Las Vegas homeowners may be on the way as early as November 15th. Homeowners that have a mortgage loan guaranteed by either Freddie Mac or Fannie Mae may be able to refinance soon, even though they are underwater.The Las Vegas real estate mark...
You've probably heard of them, you might even have walked by them in Home Depot. But you didn't get one. Smart Home Thermometers can be a HUGE money saver in your Las Vegas Home. Smart thermostats can monitor your home's activity level and adjust the temperature to what is currently happening in your Las...
An historical remnant of Las Vegas’ colorful heyday made the news this week: the 15,000 square foot Liberace Mansion. Built in 1962, Liberace purchased the mansion in 1974 and made it uniquely his own. Containing only two bedrooms but a whopping 10 bathrooms, the mansion still exhibits evidence of Liberace's original...
It seems our poor Veterans are getting hit from all sides these days. From long waits to receive urgent medical care, to decreased retirement benefits, to cutbacks on funding for new recruits, Veterans are among the least appreciated members of our society. And this appalling neglect seems to extend to home buying as...