Incline Village real estate is continuing to show strong demand. According to CoreLogic’s HPI Forecast from May 2014 to May 2015, it indicates that national home prices, including distressed sales are projected to increase year-over-year by 6%.
When comparing May 2013 to May 2014, home prices nationwide including distressed sales increased by 8.8%. Incline Village real estate home prices continue to rise.
“The pace of home price appreciation is cooling off quickly as the weather warms up,” said Mark Fleming, Chief Economist for CoreLogic. “May’s 8.8 percent year-over-year growth rate is down almost three percentage points from just three months ago. The influences of modestly rising inventory and less-than-expected demand are causing price growth to moderate toward our forecasted expectations.”
The CoreLogic HPI Report for May 2014 shows that Nevada ranks #3 with the highest home appreciation, including distressed sales with a +12.6%. California comes in 2nd at +13.1%; Michigan (+11.8%), and New York (+11%). Hawaii came in #1 with 13.2% in distressed sales.
Excluding distressed sales, Nevada comes in third at +10.6%, Hawaii ranks #2 with a +11.6%. New York has the highest home appreciation at +12.2%. Following is California (+10.4%), and Florida (+9.6%).
These figures consistently reflect the rise in Incline Village real estate home prices. “Home prices are continuing to climb across most of the country which has both positive and negative implications for the housing market,” said Anand Nallathambi, president and CEO of CoreLogic. “While the rapid rise in prices over the past two years has lifted many homeowners out of negative equity, it has also become a negative factor in buying decisions for prospective purchasers weighing affordability concerns. As we move ahead, a moderation in home price increases over the next twelve months should help cool things down a bit and keep the housing recovery going.”
Summer is the perfect time to experience the amenities of Incline Village, view the real estate market and make a purchase in Incline Village real estate.