Release from CoreLogic:
Homes across Charlottesville are gaining value according to new data released today by CoreLogic.
The data shows home prices in Charlottesville rose by 0.4 percent in June of this year compared with this same time last year. On a month-over-month basis, home prices increased by 2.1 percent in June 2016 compared with May 2016.
CoreLogic reports that national home prices increased by 5.7 percent in June 2016 compared to June of last year. On a month-over-month basis, national home prices increased by 1.1 percent from this past May to June of this year.
The CoreLogic home price forecast indicates that home prices are expected to increase by 5.3 percent from June of this year to June of next year. The forecast also projects that home prices will rise by 0.6 percent on a month-over-month basis from June to July of this year.
According to CoreLogic Chief Economist Frank Nothaft, "local markets with strong economic growth have generally had stronger home-price growth. Among large metropolitan areas, Denver had the lowest unemployment rate and the strongest home price appreciation."
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