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The Housing Market Shows ‘Continued Strength and Resiliency.’ What That Means for Home Prices.

Marketwatch Published: Aug. 4, 2020 at 11:02 a.m. ET By Shaina Mishkin

Home prices were expected to decrease by 0.1% from May to June, according to CoreLogic’s May forecast. Instead, they rose 1%, the company said in a Tuesday release.

Home prices “really rebounded much more strongly than I think any of us had thought they were going to,” CoreLogic Chief Economist Frank Nothaft told Barron’s, crediting millennial buyers taking advantage of historically low interest rates and a limited supply of homes for sale. Home prices grew 4.9% year over year in June, up from a revised 4.1% year over year in May, according to the company’s June Home Price Index and HPI Forecast, released here to read more.

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