Home prices continue to rise

Home prices in Deschutes County increased 11.2 percent in the year ending in July, according to CoreLogic, a real-estate research and data firm.

Between June and July, home prices increased by 0.9 percent, the firm reported Tuesday. CoreLogic’s figures include distressed sales.

The company reported home prices nationwide increased by 6 percent in the year ending in July and 1.1 percent month over month. It also forecast a continuing rise in home prices nationwide of 5.4 percent by July 2017.

If mortgage rates remain low and job growth continues, home purchases are likely to rise in the coming year, CoreLogic Chief Economist Frank Nothaft, said in a news release. The firm’s president and CEO, Anand Nallathambi, said the West continues to show the strongest gains in home prices. Seattle, Portland and Denver all showed double-digit increases in home prices, he said in the release.

Source: BB Real Estate – listStories1

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