By Jann Swanson | Mortgage News Daily
CoreLogic is reporting that the rate of home price increases, as measured by its Home Price Index (HPI) slowed considerably in May from its rate in each of the previous two months and continued to ratchet down from year-over-year increases at the beginning of the year.
Home prices nationwide, including distressed sales, increased month-over-month in May by 1.3 percent. The rates of increase in March and April were 2.1 percent and 1.8 percent respectively. The national HPI was up 5.9 percent from its level in April 2015. Year-over-year increases have diminished each month of this year from a January rate of 6.9 percent. The April gain was 6.2 percent.
