According to CoreLogic’s house price index, home prices increased 0.3% month over month in August, the highest increase seen in five months. Home prices have remained mostly steady over the last year, though data shows that August 2014 prices were only about half of the average monthly gain seen in August of 2012 and 2013. Property economist Paul Diggle said, “more fundamentally, despite a tightening in recent months, we expect housing market supply conditions to loosen over the next year. Earlier price gains are encouraging homeowners to bring their homes to the market, while the increase in housing completions means that the inventory of new homes for sale is expanding rapidly.” More here
