The National Association of Realtors will release a report on metro home prices for Q1 2020 on Tuesday.
The latest numbers on home prices, as reported by CoreLogic, revealed they rose annually 4.2%. This is an increase from January’s 3.9% increase.
The 10-City Composite increase was 2.9%, which is a slight increase from 2.6% in January. The increase for the 20-City Composite recorded a 3.5% year-over-year gain—up from 3.1% from the prior month.
Phoenix; Seattle; Tampa Bay; and Charlotte led the nation with the highest annual gains among the 20 cities.
In February, Phoenix led the way with a 7.5% year-over-year price increase, followed by Seattle with a 6.0% increase, and Tampa and Charlotte with 5.2% increase.
Seventeen of the 20 cities reported higher price increases in the year ending February 2020 versus the year ending January 2020.
Danielle Hale, Chief Economist at realtor.com, said the latest data from CoreLogic and S&P “demonstrates the long delay” between when this data was collected—a time when home sales were hitting 13-year highs—and when it was released.
Also, DS5: Inside the Industry will feature exclusive interviews with Joe Tyrrell, COO, Ellie Mae; Thomas Wade, Director of Financial Services Policy, American Action Forum; and the Property Preservation Panel, featuring Jim Pike, VP or Operation, Timika Scott, SVP, U.S. Bank, Michael Greenbaum, COO, Safeguard Properties, and Denia Ray, SVP, MSI, an Insight One Solutions Company.
The panelists will discuss the trends and challenges facing property preservation companies and servicers while dealing with the impact of COVID-19.
Here's what else is happening in The Week Ahead:
Banking Committee Hearing (May 12)
MBA Delinquency Survey (May 12)
LL100 Servicer Summit (May 14)
DS5: Inside the Industry (May 11, 13, 15)