Residential News »Irvine Edition | By Michael Gerrity | August 6, 2019.

Idaho, Utah and Nevada experiencing the greatest year-over-year increases

According to CoreLogic's latest Home Price Index for June 2019, the prices are both over and over. Home increased by 3.4% from June 2018. We have a month-over-month basis, increased by 0.4% in June 2019.

Single-family home prices stand at an all-time high and continue to grow on an annual basis, with the CoreLogic HPI Forecast showing annual price growth will increase by 5.2% from June 2019 to June 2020. We have a month-over-month basis The CoreLogic HPI is calculated 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.

Frank Nothaft

"Tepid home sales at the slow pace for the first half of a year since 2011," said Dr. Frank Nothaft, chief economist at CoreLogic. "Price growth continues to be faster, as it's first-time buyers and investors are both actively seeking entry-level homeowners. should have a better sales in the second half of 2019 than a year earlier.

According to the CoreLogic Market Condition Indicators (MCI), an analysis of housing values in the country's largest 100 metropolitan areas based on housing stock, 38% of metropolitan areas have an overvalued housing market as of June 2019. The MCI analysis categorizes homepage individual markets as unvalued, at value or overvalued, by means of their long-run, sustainable levels, which are supported by local market fundamentals as disposable income. As of June 2019, 24% of the top 100 metropolitan areas were undervalued, and 38% were at value.

When 42% were overvalued, 16% were undervalued and 42% were at value. The MCI analysis defines an overvalued housing market in at least 10% of the long-term, sustainable level. An undervalued housing market is at least 10% below the sustainable level.

During the second quarter of 2019, CoreLogic together with RTi Research of Norwalk, Connecticut, conducted an extensive survey measuring consumer-housing sentiment among various millennial age cohorts. Disproportionately impact older millennials (ages 30 - 39). In addition, this cohort is significantly more active in searching for a new home than any other age group. Nearly half (45%) they say they will be able to get into the next year. While affordability concerns drive older millennials towards renting, they have more positive market perceptions than older generations and 37% say purchasing a home within their market is at least somewhat affordable.

"Millennial homebuyers are no longer a trend on the industry horizon." In fact, they are the new, first-time homebuyers of today. or price range, "said Frank Martell, president and CEO of CoreLogic. "Affordable housing continues to grow." "They are looking at the data that they are not able to afford."