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MARKET UPDATE

Data analytics firm CoreLogic reported that home prices nationwide, including distressed sales, rose 6.6 percent from December 2016 to December 2017. Prices also increased 0.5 percent from November to December. CoreLogic noted that rising incomes and consumer confidence have increased the number of prospective buyers. This increase in potential buyers, coupled with limited inventories of homes for sale on the market, continue to drive prices higher across the country. Looking ahead, CoreLogic forecasts that price gains may cool a bit, with a 4.3 percent gain expected from December 2017 to December 2018.

Though there weren't any inflation reports in the latest week, inflation played a part in the volatility the markets experienced. The Jobs Report for January saw a higher-than-expected rise in wages, which came on the heels of the January FOMC meeting statement in which the Fed said that inflation could move higher in 2018.