Home prices in the San Antonio-New Braunfels area increased by 6.3 percent in April 2015, compared to April 2014, according to the latest CoreLogic report released Tuesday.
On a month-over-month basis, CoreLogic reports that home prices increased by 0.3 percent betweeen March and April 2015.
Nationwide, home prices rose by 6.8 percent year-over-year between April 2014 and April 2015. This change reflects 38 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide increased by 2.7 percent between March and April 2015.
“Old fashion supply and demand, fueled by historically low mortgage rates and improving consumer finances and confidence, continue to push home prices up,” said Anand Nallathambi, president and CEO of CoreLogic in a news release. “We expect continued price appreciation throughout 2015 and into next year.”
CoreLogic officials are projecting that household formation, up by more than one million over the past year alone, will drive down vacancy rates and create even tighter housing markets in many metropolitan areas.
By: James Aldridge