Teri L. Pierce

NMLS # 279973

801-272-0600

teri@advancedfunding.com

Teri L. Pierce Mortgage Loan Advisor

Home Price Gains Slow Down in October 2018

Home Price Gains Slow Down in October 2018

CoreLogic reports that home prices, including distressed sales, rose 5.4 percent from October 2017 to October 2018. That is down from the 7 percent gain seen year over year in March of this year. On a month over month basis, prices rose 0.5 percent from September 2018 to October 2018. Looking ahead, CoreLogic sees a 4.8 percent increase from Oct0ber 2018 to October 2019. Frank Nothaft, Chief Economist at CoreLogic says, "Rising prices and interest rates have reduced home buyer activity and led to a gradual slowing in appreciation (in prices)." This is good news for Utah homebuyers.