Home prices in Colorado hit a new peak in March with a 10 percent year-over-year increase, according to the latest Home Price Index report by CoreLogic, a leading provider of global property information and analytics.
One of 12 states to reach new home price highs, Colorado is joined by Washington, Oregon, Alaska, Hawaii, Nebraska, Oklahoma, Texas, Louisiana, Tennessee, North Carolina and New York.
And the upward trend is expected to continue. Projections show Colorado prices adding another .8 percent in April 2016 and 5.7 percent through March 2017, according to CoreLogic.
Nationwide, home prices gained 6.7 percent year-over-year and 2.1 percent from February to March 2016. Prices are expected to rise 5.3 percent from March 2016 to March 2017.
The five states registering the largest year-over-year increase are:
- Washington 13%
- Colorado 10%
- Oregon 10%
- Florida 9.3%
- New York 8.2%
Zero states showed negative home price appreciation.
“Home prices reached the bottom five years ago, and since then have appreciated almost 40 percent,” said Anand Nallthambi, president and CEO of CoreLogic. “The highest appreciation was in the West, where prices continue to increase at double-digit rates.”
CoreLogic is a leading global property information, analytics, and data-enabled solutions provider. The CoreLogic HPITM is built on industry-leading public record, servicing and securities databases and incorporates more than 30 years of repeat-sales transactions for analyzing home price trends. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables.
To download the full report, visit http://www.corelogic.com/about-us/researchtrends/corelogic-home-price-insights.aspx#.VzndHYQrLcs
Owner and Founder
RE/MAX of Boulder