October’s home price appreciation data showed that home prices continued to increase compared to the same time last year according to CoreLogic’s Home Price Index report. Nationally, home price appreciation in October grew by 6.1% on a year-over-year basis and 0.5% on a month-over-month when including distressed sales. CoreLogic projected that home price appreciation would rise a modest 0.2% from October 2014 to November 2014.
Anand Nallathambi, President and CEO of CoreLogic stated, “The gradual recovery of the housing market continues to be propelled by improving employment, more buyer and seller confidence, continued low rates, and in certain parts of the country, investor demand. The continued actual and projected rise in home prices confirms that fact. Based on our projections, home prices in over half of the country will have reached or surpassed levels last seen at the height of the housing bubble sometime in mid-2015.”
Every state in the US saw increases in home price appreciation when including distressed sales compared to October 2013. Of the 9 states that reached new home price appreciation highs was Wyoming. The 12-month change in home price appreciation was +2.1% and +1.5% compared to September. Read more at http://bit.ly/12CiRat.