Kansas (9.5%), Colorado (8.5%), Carolina (8.2%), Florida (7.9%),and (up 7.6%).
“All signs are pointing toward continued price appreciation throughout 2015. In fact, the strong month-over-month gain in March may be a harbinger of accelerating price South Texas appreciation as we enter the spring selling season,” CoreLogic said in a statement.
It added that tight inventories, job growth and the inexorable impact of demographics and household formation are pushing price levels in many states, and especially large metropolitan areas like Dallas, Denver, Houston, Seattle, and San Francisco, toward record levels.
CoreLogic has forecast that home prices will rise 0.8% month-on-month in April and rise by 5.1% between March 2015 and April 2016. Both projections include distressed sales.
In its latest report based on a survey of senior loan officers, the Federal Reserve noted that “regarding loans to households, banks reported having eased lending standards for a number of categories of residential mortgage loans over the past three months on net. Most banks reported no change in standards and terms on consumer loans. On the demand side, moderate net fractions of banks reported stronger demand across most categories of home-purchase loans. Similarly, respondents experienced stronger demand for auto and credit card loans on balance.”
Banks are willing to lend and buyers are willing to borrow. Now inventory just has to catch up. (Source: 24/7 Wall St.com)