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CoreLogic Reports Home Prices Increased by 5.1%; Growth Projected to Slow in 2019

Irvine, CA-based CoreLogic says its latest research shows home prices rose both year over year and month over month for November 2018. Home prices increased nationally by 5.1% year over year from November 2017, according to the CoreLogic Home Price Index. On a month-over-month basis, prices increased by 0.4% in November 2018.

Looking ahead, the CoreLogic HPI Forecast indicates home prices will increase by 4.8% on a year-over-year basis from November 2018 to November 2019. On a month-over-month basis, home prices are expected to decrease by 0.8% from November to December 2018.

“The rise in mortgage rates has dampened buyer demand and slowed home-price growth,” said Dr. Frank Nothaft, chief economist for CoreLogic. He notes, higher rates and home prices have reduced buyer affordability. In turn, sellers are responding by lowering asking prices, a condition reflected in the slowing growth of the CoreLogic Home Price Index.

CoreLogic’s analysis of housing values in the country’s 100 largest metropolitan areas based on housing stock, indicates 35% of metropolitan areas have an overvalued housing market as of November 2018. Additionally, 27% of the top 100 metropolitan areas were undervalued, and 38% were at value.

When looking at only the top 50 markets based on housing stock, 44% were overvalued, 18% were undervalued and 38% were at value.

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Read more at Business WireConnect With CoreLogic’s Nothaft

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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