Home price appreciation continued to make gains according to CoreLogic’s November 2014 Home Price Index (HPI) Report. Compared to November 2013, including distressed sales, national home price appreciation grew by 5.5%. CoreLogic’s report indicated that the increase “marks the 33rd consecutive month of year-over-year home price gains.”
On a month-over-month basis, November 2014 national home price appreciation, also including distressed sales, rose by 0.1%. However, home price appreciation is forecasted to decline by 0.1% between November and December. CoreLogic president and CEO, Anand Nallathambi, stated, “The pace of home price gains have slowed as we exit 2014 but this is probably only a temporary lull. While the CoreLogic HPI Forecast shows a slight dip in prices next month, we believe that prices will be up a year from now as continued economic growth fuels buyer confidence and their willingness to purchase a home and invest in their future.”
The HPI report’s state-level data including distressed sales showed that Idaho (+0.4%), Montana (+7.8%), Washington (+6.9%) and Wyoming (+3.6%) all had home price appreciation growth compared to the same time last year. Wyoming’s home price appreciation reached a new peak in November, marking the second time in a row where Wyoming’s 12-month change in home price appreciation reached a new high. To read the full report, visit http://bit.ly/1Km7m8f.