Home prices are up 6.4 percent according to Corelogic’s Home Price Index (HPI®) report released in October, 2014. The report compares home prices across the country from August, 2013 to August, 2014 revealing a trend of year-over-year increases in home sales, including those of distressed properties. This increase continues the uptick of prices that has been reported nationally for 30 consecutive months. From July, 2014 to August, 2014 sales prices increased 0.3 percent overall.
All states showed a year-over-year home price appreciation from traditional and distressed sales, with nine states reaching new highs. States with the top increases were Alaska, Colorado, Iowa, Louisiana, Nebraska, North Dakota, Oklahoma, Texas and Wyoming, as well as the District of Columbia.
From this data, The CoreLogic HPI Forecast predicts that home prices, including distressed sales, will increase 5.2 percent from August, 2014 to August, 2015. The CoreLogic HPI Forecast is a monthly projection of home prices built using the CoreLogic HPI and other economic variables.
“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.”