Home-price growth expected to pick up in year ahead

Strong spring home buying season may spur growth

Home prices have been appreciating rapidly since the housing market’s recovery, but they’ve stepped off the fast track in recent months, displaying a notable slowdown in appreciation.

But CoreLogic predicts a turnaround thanks to low mortgage rates, which should spur strong home buying activity this spring and nudge home prices upward.

In February, home prices revealed a modest month-over-month increase of just 0.7% – an unusually slow start to the year, CoreLogic revealed.

“During the first two months of the year, home-price growth continued to decelerate,” said CoreLogic Chief Economist Frank Nothaft. “This is the opposite of what we saw the last two years when price growth accelerated early.”

On an annual basis the picture was slightly rosier, with a 4% increase over February 2018.

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