To Own or To Rent in Overvalued Markets?
Home prices are rising, which is good news for homeowners (but not so much for those hoping to buy), especially in popular markets such as San Francisco and Denver.
According to the CoreLogic Home Price Index Report, which shows the changes in home prices year-over-year and month-over-month, home prices across the country rose by 6.4 percent in September 2015 from September 2014. Prices will continue to increase by 4.7 percent on a year-over-year basis from September 2015 to September 2016, according to CoreLogic.
In the second quarter of 2015, 14 of the top 100 markets in the country were overvalued—a twofold increase from the previous quarter, according to CoreLogic research.