U S Home Prices Continue to Climb

Home Prices Post Biggest Jump in 7 Years

Home prices are moving up at a quicker pace, rising in May by their largest annual amount in more than seven years with more to come, according to the latest report released by CoreLogic. 

Home prices increased 2.6 percent in May over April and have shot up 12.2 percent compared to last year’s prices according to CoreLogic economists who predict that home prices will rise by another 2.9 percent in June, making the yearly price gain 13.2 percent year-over-year. 

Tight inventories of homes for sale across the nation seem to be the driving factor with pent up demand and low interest rates adding to the action.   

When including distressed sales, the following five states have seen the highest home appreciation in the past year, according to CoreLogic:

• Nevada: +26%
• California: +20.2%
• Arizona: +16.9%
• Hawaii: +16.1%
• Oregon: +15.5%

What are home prices doing in the Grand Strand?  Check SiteTech Systems latest report at:http://www.sitetechsystems.com/Grand_Strand_Market_Report.pdf