The real estate data and analytics firm CoreLogic reports that home prices in the United States increased in June, marking the fifth consecutive month of year-over-year gains in residential property values. But the California-based company says price appreciation has slowed considerably – a sign of things to come as we head into the fall season.
CoreLogic says June’s 2.3 percentage point deceleration from May is “very large by historical standards.” The deceleration was most pronounced in more expensive and distressed segments of the market.
According to Mark Fleming, chief economist for CoreLogic, home price volatility and collateral risk remain very high.
“The stabilization phase and policy intervention since the spring of 2009 has run its course. Prices are expected to further moderately decline as the economy remains weak through the fall,” Fleming said.
