Meanwhile, home prices nationwide, including distressed sales, rose 6.8% in April 2015 compared with April 2014, according to a recently released report by CoreLogic. The newly released data shows 38 months of consecutive year-over-year increases in home prices nationally. The Los Angeles-Long Beach-Glendale CA area had one of the highest price increases at 7.8% (including distressed sales.)
“We expect continued price appreciation throughout 2015 and into next year. Over the longer term, household formation, up by more than one million over the past year alone, will drive down vacancy rates and create tighter housing markets in many metropolitan areas. This should provide the necessary underpinning for rising prices for the foreseeable future,” said Anand Nallathambi, President & CEO of CoreLogic.
