Augst Home Prices Up 6.4 Percent Over Last Year

8 10 2014

Home prices continued the annual gains in August but have appreciated at a slower pace since hitting a peak a year ago.

CoreLogic, which tracks data on the housing market, reported that prices rose 6.4 percent in August compared with the same month a year ago, representing 30 months of year-over-year increases.

Home prices hit a high of 12 percent year-over-year in October 2013 and has been dropping since then.

“Continued moderation of home price appreciation is a welcomed sign of more balanced real estate markets and less pressure on affordability for potential home buyers in the near future,” Fleming said.

Prices were up 0.3 percent in August over July.

At the state level, including distressed sales, all states showed year-over-year home price appreciation in August.

Prices reached new highs in nine states — Alaska, Colorado, Iowa, Louisiana, Nebraska, North Dakota, Oklahoma, Texas and Wyoming — plus the District of Columbia.

Excluding distressed sales, home prices nationally increased 5.9 percent in August compared with the same month a year ago and 0.3 percent on a monthly basis.

Also, taking out distressed sales, 49 states and the District of Columbia showed year-over-year home price appreciation in August, with Mississippi being the only state to experience a decline (-1.7 percent).

CoreLogic’s forecast shows that home prices, including distressed sales, will increase 0.2 percent from August to September and by 5.2 percent from August to August 2015.

“Home prices continue to rise, albeit more slowly, across most of the U.S.,” said Anand Nallathambi, president and CEO of CoreLogic.

“Major metropolitan areas such as Riverside and Los Angeles, California, and Houston continue to lead the way with strong price gains buoyed by tight supplies and a gradual rebound in economic activity.”

Source: CoreLogic

 





Residential Real Estate Price Growth is Strongest Since 2005

4 02 2014

Home prices — both nationwide and in Jacksonville — are on the rise, according to a report from CoreLogic.

Across the United States, home prices have increased 11 percent from December 2012 to December 2013, including distressed sales.

The CoreLogic Home Price Index report on Tuesday reported the 22nd consecutive monthly year-over-year increase in US home prices based on Multiple Listing Service data.

In Jacksonville, home prices increased 9 percent including distressed sales and 11.5 percent when distressed sales are excluded, on a year-over-year basis.

Sales jumped 1.5 percent from November to December.

The CoreLogic report follows a report from RealtyShack showing an increase in home flipping.

See the full CoreLogic report here.

Source: CoreLogic and Jacksonville Business Journal








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