CoreLogic HPI

CoreLogic reported that home prices rose 0.1% in January and 4.4% year over year. While the year over year rate moderated slightly from 4.7%, the current levels of appreciation are still very meaningful for wealth creation. CoreLogic forecasts that home prices will appreciate by 4.6% from January 2019 to January 2020. We think there will be some choppiness, but still believe the dynamics are in place for a healthy housing market.