Economic Report: Home price gains picked up steam at year-end, CoreLogic says [MarketWatch]
CORELOGIC (CLGX)
Last corelogic earnings: 4/30 04:15 pm
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US:NYSE Investor Relations:
investor.corelogic.com/node/668
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Source: MarketWatch
Home price gains picked up steam at year-end, CoreLogic says Forget the rent - home purchase prices may soon be “too damn high.” Nationally, prices rose 6.6% for the 12 months ending in December, real-estate data provider CoreLogic said Tuesday. That marked the fourth month in a row in which annual increases were higher than in the prior month. “Affordability continues to erode, making it more challenging for both first time buyers and moderate-income families to buy,” CoreLogic said in a release. “At this point, we estimate that more than one-third of the 100 largest metropolitan areas are overvalued.” The top three “overvalued” metro areas in CoreLogic’s analysis were Las Vegas, where prices were 11.2% higher than a year ago in December; Denver, where they jumped 8.1% for the year; and Los Angeles, where prices rose 7.8% for the year. “Overvalued” isn’t just a reflection of “biggest price gain,” however. San Francisco home values rose 10.1% for the year, after years of pricing peopl
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