The housing market displayed bright short-term and long-term trends in September, according to CoreLogic's Home Price Index.
Home prices, including distressed sales, rose 6.4% compared to September 2014, and inched up 0.6% from August, the company found.
CoreLogic also predicted that prices would keep rising by 4.7% year-over-year from September.
But they might drop in October, the company found, based on a reading of its index and other economic variables.
"After nearly 10 years of very high home price volatility, home price increases have been remarkably stable for the last 15 months, ranging between a 4.8% and 6.5% year-over-year increase," said Sam Khater, CoreLogic's deputy chief economist, in a Nov. 3
But the rising market prices are not without risks, noted CoreLogic President and CEO Anand Nallathambi. "More has to be done to expand inventories if we are going to address the emerging affordability crisis, especially in hot markets like California and Colorado," he said in the release.
