Home prices jumped 7.1 percent annually in May, according to a new report from CoreLogic. That’s the biggest jump in four years. Annual price gains had been shrinking slightly, as mortgage rates.
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Of course, it would not be at all surprising to see a moderation in the escalation of home prices. Indeed, the Office of Federal housing enterprise oversight (ofheo) house price index released recently this month did suggest that house price appreciation had slowed over the first quarter of this year.
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Conforming home prices appear to have taken a surprising jump in February, according to data released Tuesday morning by the Office of Federal Housing Enterprise Oversight.
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Preview: OFHEO Purchase-Only House Price Index to Decline in February. The new monthly OFHEO purchase-only home price index is expected to fall 1.5% in February, following a 1.1% decline in the January report. The purchase-only index, based on data from home sales, was introduced in OFHEO’s fourth quarter 2007 House Price Index (HPI) report,