CoreLogic November Home Price Index Soars 7% for Third Straight Month
For the third straight month, November home prices rose 7% year over year based on CoreLogic's home price index.
For the third straight month, November home prices rose 7% year over year based on CoreLogic's home price index.
The National Association of Realtors reported Wednesday morning that pending home sales rose just 0.2% year over year in November.
CoreLogic reported Tuesday that credit risk on home loans rose slightly in the third quarter while borrowers' credit scores rose and home loan-to-value ratios fell slightly.
New home sales soared 26.6% year over year in November keeping for-sale inventory tight and prices high but relatively stable.
Sales of existing homes rose by nearly 6% year over year in November and the median price rose by the same amount. Inventory fell nearly 10% year over year, however.
Mortgage loan rates moved higher on some types of loans last week and lower on others. The range of movements was small, and rates are moving higher this week.
Housing starts rose to a year-to-date high in November as new construction continued in the South and began in the West following storm and fire damage earlier this year.
The National Association of Home Builders (NAHB) reported Monday that December's housing market index hit its second-highest reading in more than 12 years.
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U.S. homeowner equity in the third quarter rose by $871 billion, an increase of 11.8%. The number of underwater homeowners fell by 22%, or 3.6 million homes.