For the 22nd-consecutive month, year-over-year home price appreciation increased according to CoreLogic’s December Home Price Index (HPI) report. Including distressed sales, national home appreciation in December 2013 was 11% greater than December 2012. Excluding distressed sales, the year-over-year increase was 9.9%. In a month-over-month comparison, national home price appreciation decreased by 0.1% in December from November including distressed sales. CoreLogic’s Chief Economist, Dr. Mark Fleming, stated, “Last year, home prices rose 11 percent, the highest rate of annual increase since 2005, and 10 states and the District of Columbia reach new all-time price peaks. We expect the rising prices to attract more sellers, unlocking this pent-up supply, which will have a moderating effect on prices in 2014.”
Including distressed sales, Idaho, Montana, Washington and Wyoming single-family home appreciation saw year-over-year increases. Home price appreciation in Idaho (+12.0%) and Washington (+10.1%) saw double-digit increases in December 2013 compared to December 2012. Montana and Wyoming also saw year-over-year increases in home price appreciation with Montana reaching a 9.1% increase and Wyoming reaching a 7.3% increase. To view the full CoreLogic HPI report, visit http://bit.ly/1frIri0.