CoreLogic HPI

CoreLogic reported that home prices rose 1.0% in April and 3.6% year over year. While the year over year rate moderated slightly from 3.7%, the current levels of appreciation are definitely sustainable and are still very meaningful for wealth creation. CoreLogic forecasts that home prices will appreciate by 4.7% from April 2019 to April 2020, which is slightly lower from the 4.8% they forecasted in March. We think there will be some choppiness, but still believe the dynamics are in place for a healthy housing market.