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Home Prices Grow by 3.7% in March, Expected to Pick Up ; Rates Stay Flat Despite Bond Market Gains

Home Prices Grow by 3.7% in March, Expected to Pick Up ; Rates Stay Flat Despite Bond Market Gains

Home price growth continued to slow on an annual basis in March. The CoreLogic Home Price Index (HPI) shows home prices increased from the previous March by 3.7 percent. The annual growth rates in January and February were 4.4 percent and 4.0 percent respectively. On a month-over-month basis prices grew by 1.0 percent, the same as in January. Prices had spiked by 0.4 percent in February. The company's deputy chief economist Ralph McLaughlin said, "The U.S. housing market continues to cool, primarily due to some of our priciest markets moving into frigid waters. But the broader market looks more temperate as supply and demand come into balance. With mortgage rates flat and inventory picking up, we expect more buyers to take advantage of easing housing market headwinds ." Price increases continued
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