CoreLogic Sees US Home price To Grow 5.4% By April 2017

CoreLogic Inc (NYSE: CLGX), which is engaged in analytics and data-enabled services provider, revealed its Home Price Index, as well as HPI Forecast data for April 2016. According to the company, it sees home prices in the United States to grow 5.3 percent by April 2017.CoreLogic said that Home prices nationwide, including distressed sales, grew 6.2 percent on a YOY basis in April 2016 over the preceding year month. Also, on a month-over-month, home prices witnessed 1.8 percent increase in April 2016 from March 2016.The company's president and CEO, Anand Nallathambi, commented, "The appreciation in home prices over the past year reflects the gathering pace of the recovery in housing in most states and regions in the U.S. Price increases in a significant number of states in the Northeast and Mid-Atlantic regions lagged the national average with Connecticut, Maryland, Pennsylvania, West Virginia, New Jersey and Vermont registering gains of 1 percent or less over the past year."CoreLogic's Chief Economist, Frank Nothaft, commented, "Low mortgage rates and a lean for-sale inventory have resulted in solid home-price growth in most markets. An expected gradual rise in interest rates and more homes offered for sale are expected to moderate appreciation in the coming year."The company indicated that its HPI Forecast suggested that home prices would grow by 5.3 percent on a year-over-year basis to April 2017 from April 2016, and on a month-over-month basis home prices are expected to increase 0.9 percent in May from April. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables.Shares of the company traded 0.31 percent down on Tuesday.