This week, CoreLogic released its Home Price Insights Report, exploring national and state-level trends in home prices and forecasting future trends. According to the report, national home prices rose by 7.2% in a year-over-year comparison from December 2015 to December 2016. Connecticut home prices only increased 0.6%.
Connecticut remains one of the five states furthest from peak home values, at 19.9% below peak value. However, CoreLogic forecasts that Connecticut will see a 5.5% increase by this time next year, slightly above the national forecast of a 4.7% increase in home prices.
While national home prices in December 2016 showed only a slight increase of less than 1% since November 2016, these figures represent a continued increase in a year-over-year comparison, and CoreLogic forecasts prices will continue to rise. The report forecasts a new national peak level in September 2017.
Click here to read the full report.