February 2018 National Home Prices
Home prices nationwide, including distressed sales, increased year over year by 6.7 percent in February 2018 compared with February 2017 and increased month over month by 1 percent in February 2018 compared with January 2018 (revisions to public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results).
Forecast Prices Nationally
The CoreLogic HPI Forecast indicates that home prices will increase by 4.7 percent on a year-over-year basis from February 2018 to February 2019, and on month-over-month basis home prices are expected to be flat from February 2018 to March 2018.
The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.
In an analysis of the country’s 100 largest metropolitan areas based on housing stock, 34 percent of cities have an overvalued housing stock as of February 2018, according to CoreLogic Market Conditions Indicators (MCI) data. The MCI analysis categorizes home prices in individual markets as undervalued, at a value or overvalued by comparing home prices to their long-run, sustainable levels, which are supported by local market fundamentals such as disposable income. Also, as of February, 30