Home Prices Rise For The 22nd Straight Month
Home prices, including those of distressed sales, were up 11% on the year in December, according to CoreLogic’s latest home price report. This is the 22nd straight month of gains.
On a month-over-month basis, home prices were down a modest 0.1%.
Ex-distressed sales home prices were up 9.9% year-over-year in December, and up 0.2% on the month.
“Last year, home prices rose 11 percent, the highest rate of annual increase since 2005, and ten states and the District of Columbia reached new all-time price peaks,” Dr. Mark Fleming, chief economist for CoreLogic said in a press release. “We expect the rising prices to attract more sellers, unlocking this pent-up supply, which will have a moderating effect on prices in 2014.”