CoreLogic Analytics Find Area Home Prices Dip Slightly in March
YOUNGSTOWN, Ohio – Home prices in the Youngstown-Warren-Boardman metropolitan area declined by 0.8% in March compared to February, reports CoreLogic, a California-based provider of property information and analytics.
On a month-over-month basis, home prices, including distressed sales, increased by 1.2% in March compared to February, according to CoreLogic.
Excluding distressed sales, year-over-year prices declined by 1.5% in March. On a month-over-month basis, excluding distressed sales, the CoreLogic index indicates home prices increased by 2.2%.
Home prices nationwide, including distressed sales, rose by 5.9% in March compared with March 2014.
“The homes for sale inventory continues to be limited while buyer demand has picked up with low mortgage rates and improving consumer confidence,” said Frank Nothaft, chief economist for CoreLogic. “As a result, there has been continued upward pressure on prices in most markets, with our national monthly index up 2% for March and up approximately 6% from a year ago.”
Copyright 2023 The Business Journal, Youngstown, Ohio.