CoreLogic House Prices (Mar.)

The March CoreLogic house price index offered no evidence of a let-up in house price growth. After seasonal-adjustment, the 0.9% m/m gain was the same as that seen in February. That pushed the annual growth rate up to 7.1%, a 34-month high. Very tight market conditions are behind the rise and, with inventory levels set to remain low, there is little prospect of a slowdown in gains over the next few months.