While the housing market shows signs of cooling, home prices continue to make gains according to CoreLogic’s October Home Price Index (HPI) report. Nationally, including distressed sales, home prices in October increased by 12.5% from a year ago and rose 0.2% from September. Chief economist for CoreLogic, Dr. Mark Fleming, stated in the report that October’s data reflects the anticipated slowing in home price appreciation and that the growth rate for November and December is expected to “moderate even further.” Nevertheless, Fleming points out, “The slowdown in price appreciation is positive for the housing market as almost half the states are now within 10 percent of their respective historical price peaks.”
Including distressed sales, Idaho (+11.9%), Montana (+7.3%), Washington (+11.7%) and Wyoming (+9.0%) all saw home price appreciation gains in October compared to October 2012. On a month-over-month basis, Wyoming’s home price appreciation was 0.1% greater than September while Idaho (-0.3%), Montana (-0.5%) and Washington (-0.1%) all saw declines. To view the full report, go to http://bit.ly/1eMKjSY.