Lehigh Valley

Home Prices in Allentown-Bethlehem-Easton increase year-over-year

Prices rose by 4.2% in April 2014

ALLENTOWN, Pa. - Corelogic is reporting that homes across Allentown-Bethlehem-Easton are gaining value.

In data released Tuesday by the company, home prices in the area rose by 4.2% in April 2014, compared to the same time last year.

The company also reports that national home prices increased by 10.5% in April 2014, compared to April 2013.

They note that this makes the 26th month in a row that national home prices have gone up year-over-year.

On a month-by-month basis, national home prices increased by 2.1% from March to April 2014.

The Corelogic Home Price Index forecast indicates that from April to May of 2014, home prices are expected to have increased by 1%.

The forecast also projects that home prices will rise by 6.3%, give or take 1.5%, from April this year to April 2015.

Corelogic deputy chief economist, Sam Khater, says the weakness in home sales that began a few months ago is signaling a slowdown in price appreciation.

The increase in April was the slowest rate of appreciation in 14 months.

Corelogic is a company which provides data, analytics and other services in the financial and real estate domains.

 


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