Home Prices Rose 6.8% in October on Yearly Basis: CoreLogic

Home prices rose 6.8% in October compared to the same month last year, according to CoreLogic.

The Irvine, Calif., analytics company also said its Home Price Index had grown by a negligible amount from September.

"The rise in home prices over the past few years has largely been a healthy trend. The shadow inventory has been reduced significantly and home equity levels are now approaching pre-recession levels," said CoreLogic's President and Chief Executive Anand Nallathambi in a Dec. 1 press release.

CoreLogic also predicts that home appreciation will drop to 5.2% over the following 12 months.

"As we move forward, the rise in home prices will need to be better correlated to family income trends over time to avoid homes becoming unaffordable for many," added Nallathambi.

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Originations Real estate Housing
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