M Report – Krista Franks Brock
In its first-quarter report, the CoreLogic Case-Shiller Home Price Indexes experienced a double-digit national price gain for the first time since the housing bubble that took place seven years ago. Prices increased an average of 10.2 percent from the first quarter of last year to the first quarter of this year across the 380 metro markets tracked. “Record levels of affordability, a slow improving job market, and very small inventories of new and existing homes for sale will continue to drive U.S. home price appreciation during the summer,” said David Stiff, chief economist for CoreLogic Case-Shiller. However, the economist does predict a slow-down in appreciation over the next year. From the first quarter of this year to the first quarter of next, the Case-Shiller Indexes predict a 6.5 percent price gain.