CoreLogic: Home Prices Rose Four Percent in 2019, With Rural States Experiencing Highest Growth

CoreLogic: Home Prices Rose Four Percent in 2019, With Rural States Experiencing Highest Growth

CoreLogic® announced this week that home prices in December 2019 rose nationally by four percent from December 2018 and by 0.3 percent from November 2019, and that values are forecasted to increase 5.2 percent from now to December 2020.

Price gains varied significantly with Idaho experiencing a 9.9 percent surge compared to a more tepid 0.2 gain for Connecticut.

CoreLogic noted that lower-priced homes had more price growth than higher-priced homes in 2019, which explains why the biggest gains occurred in rural states such as Maine (7.9 percent), Wyoming (7.7 percent), South Dakota (7.4 percent), Missouri (6.5 percent), New Mexico (6.4 percent), Arizona (6.4 percent), Utah (6.1 percent), West Virginia (6.3 percent) and Indiana (6 percent).

By contrast, the higher populated states saw more minimal gains. California home values grew by 2.7 percent, Florida by 3.6 percent, Illinois by 1.3 percent, New Jersey by 2.4 percent, New York by 1.6 percent, Pennsylvania by 3.8 percent and Texas by 3.4 percent.