A new report from analytics firm CoreLogic predicts that national home prices will experience a healthy rise from January 2015 to January 2016.
The report predicts a 4.9% bump for national home prices, which is actually less than the 5.7% year-over-year increase experienced by national prices from January 2014 to January 2015. Excluding distressed sales, prices rose 5.6% during that same period.
“House price appreciation has generally been stronger in the Western half of the nation and weakest in the mid-Atlantic and Northeast states,” CoreLogic chief economist Frank Nothaft said in a press release.
“In part, these trends reflect the strength of regional economies. Colorado and Texas have had stronger job creation and have seen 8% to 9% price gains over the past 12 months in our combined indexes.”
“A dearth of supply in many parts of the country is a big factor driving up prices,” CoreLogic president and chief executive Anand Nallathambi added in the release.