Home price appreciation data for August continued to reflect a more moderate pace according to CoreLogic’s August 2014 Home Price Index (HPI) report. Including distressed sales (short sales and real estate owned transactions), national home price appreciation increased 6.4% compared to August 2013 and 0.3% compared to the previous month.
CoreLogic Chief Economist, Mark Fleming, expressed that the trend of home price moderation seen in recent months reflected more equilibrium in the housing market. Fleming stated, “Home price appreciation reached a peak of almost 12 percent year-over-year in October 2013 and has since subsided to the current pace of 6 percent. Continued moderation of home price appreciation is a welcomed sign of more balanced real estate markets and less pressure on affordability for potential home buyers in the near future.”
Home price appreciation also continued to rise in Idaho (+3.3%), Montana (+7.7%), Washington (+7.3%) and Wyoming (+5.1%) on a year-over-year basis when including distressed sales. Read the full August HPI report at http://bit.ly/1rXMw5C.