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After Blockbuster February, Home Prices Face Uncharted Territory

Posted To: MND NewsWire

Home price gains accelerated for the fourth straight month in February with a 4.1 percent annual increase in the CoreLogic Home Price Index (HPI) The 12-month rate of appreciation in January was 4.0 percent. The company said home prices nationwide, including distressed sales, rose 0.6 percent from January to February, up from growth of 0.1 percent the previous month. “Before the onset of the pandemic, the quickening of home price growth during the first two months of 2020 highlighted the strength of purchase activity ,” said Dr. Frank Nothaft, chief economist at CoreLogic. “In February, the national unemployment rate matched a 50-year low, mortgage rates fell to the lowest level in more than three years and for-sale inventory remained lean, all contributing to the pickup in value growth.” CoreLogic…(read more)

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