{"id":6234,"date":"2014-04-03T13:08:06","date_gmt":"2014-04-03T13:08:06","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=6234"},"modified":"2014-04-03T13:08:06","modified_gmt":"2014-04-03T13:08:06","slug":"home-prices-likely-moderate-soon","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/home-prices-likely-moderate-soon\/","title":{"rendered":"Home Prices Likely to Moderate Soon"},"content":{"rendered":"

Home Prices Likely to Moderate Soon<\/h2>\n
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Home Prices Likely to Moderate Soon. Image courtesy of Stuart Miles \/ FreeDigitalPhotos.net<\/p><\/div>\n

Home owners have been enjoying big home price rises across the country, but those increases \u2013 often by double-digit percentages \u2013 will likely level off soon, according to CoreLogic\u2019s latest Home Price Index, which reflects February data. The index, which also includes distressed sales, was up 12.2 percent in February compared to year-ago levels. That marked the 24th consecutive month for annual home price increases, according to CoreLogic\u2019s index.<\/p>\n

\u201cAs the spring home-buying season kicks off, house price appreciation continues to be strong,\u201d says Mark Fleming, CoreLogic\u2019s chief economist. \u201cAlthough prices should remain strong in the near term due to a short supply of homes on the market, price increases should moderate over the next year as home equity releases pent-up supply.\u201d<\/p>\n

The National Association of REALTORS\u00ae\u2019 most recent existing-home sales report<\/a>\u00a0showed that the median existing-home price for all housing types was $189,000 in February, a 9.1 percent rise over February 2013. \u201cPrice gains have translated into an additional $4 trillion of housing wealth recovery over the past three years,\u201d Lawrence Yun, NAR\u2019s chief economist, said in a statement.<\/p>\n

According to CoreLogic\u2019s index, no state had posted negative annual appreciation in February. CoreLogic\u2019s index, including distressed sales, shows the following five states posted the highest annual home price appreciation:<\/p>\n