Johnson City MSA home price index up for 30th straight month


MayThe Johnson City MSA CoreLogic Home Price Index completed its 30th straight year-over-year increase in May. During the same period the Kingsport-Bristol MSA HPI has been up in all but three months. May was also the sixth straight month the Johnson City MSA’s HPI has outperformed Kingsport-Bristol.

According to May’s report, Kingsport-Bristol, home prices, including distressed sales, increased by 2.7 percent in May 2015 compared with May 2014. On a month-over-month basis, home prices increased by 1.6 percent when compared with April 2015.

Excluding distressed sales, year-over-year prices increased by 5.2 percent in May 2015 and were up 5.3 percent in when compared with April.

In Johnson City, the all-sales index increased by 6.1 percent in May 2015 compared with May 2014. On a month-over-month basis it was up 3.5 percent.

Excluding distressed sales, year-over-year prices increased by 9.7 percent in May and up 2.4 percent on the month-over-month metric.

CoreLogic’s May report shows home prices nationwide, including distressed sales, increased by 6.3 percent in May 2015 compared with May 2014. This change represents 39 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 1.7 percent.

Excluding distressed sales, home prices increased by 6.3 percent in May 2015 on the year-to-year metric and were up 1.4 percent on the month-over-month metric.

The CoreLogic HPI is a multi-tier market evaluation based on price, time between sales, property type, loan type (conforming vs. nonconforming) and distressed sales. It’s a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, including single-family attached and single-family detached homes, which provides a more accurate “constant-quality” view of pricing trends than basing analysis on all home sales..

 

 

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