Single-family house prices in May were up from April and from a year ago, and should steadily rise through next spring, according to the latest CoreLogic Home Price Insights Report and HPI Forecast from CoreLogic released Tuesday. Prices nationwide, including distressed sales, increased 1 point 3 percent from April and by 5 point 9 percent compared with May 2015.
The overall index is essentially where it’s been since May of 2014, when prices leveled out after a six-year rollercoaster. The Pacific Northwest saw the largest 12-month increases in home prices in May. Washington’s single-family prices increased 10 percent since last year, and Oregon’s grew 11 percent. CoreLogic Tuesday also predicted that home prices will increase zero point 8 percent for June and, year-over-year, 5 point 3 percent by May 2017.
The Consumer Financial Protection Bureau recently released its report on supervisory actions in the first four months of the year and found that while mortgage lenders generally are in compliance with federal consumer financial laws, many entities continue to have deficiencies in their compliance management systems. Violations were relatively small, but significant enough for the CFPB to require corrective action.