Another home price report defying the odds

By Jann Swanson | Mortgage News Daily

Home prices measured by CoreLogic’s Home Price Index (HPI) posted their largest gains in nearly a year in March, continuing to confound the company’s own forecasts. The HPI, which includes sales of distressed properties, was up 1.6 percent from February to March. This was the biggest monthly jump since the index gained 1.8 percent from March to April 2016. The January to February increase was 1.0 percent.

Related: Homeownership Falls Back from Recent Gains

On an annual basis, the CoreLogic HPI was up 7.1 percent compared to a 7.0 percent year-over-year change in February. The March’s increase fell short of December’s 7.2 percent advance, the largest advance of 2016.

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