Home Prices Reach Highest Point Since 2006

Earlier this week CoreLogic reported that year over year home prices rose to the highest point since August 2006 – 3.8%. On top of that, July marked the fifth straight month over month increase. CoreLogic chief economist, Mark Fleming, indicated that this growth is likely to result in price gains for the rest of the year. “The housing market continues its positive trajectory with significant price gains in July and our expectation of a further increase in August.” Building on that sentiment, CoreLogic CEO Anand Nallathambi added, “It’s been six years since the housing market last experienced the gains that we saw in July… we are clearly seeing the light at the end of the tunnel.”

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