Home Prices Post Biggest Gain in Six Years

Image

Home prices rose 8.3% in December from a year earlier, the biggest gain since May 2006, according to CoreLogic.

All but four states — Pennsylvania, New Jersey, Illinois and Delaware — posted increases.

Prices rose 0.4% in December from November, the 10th consecutive monthly advance.

Excluding foreclosures and short sales, which sell at deep discounts to the market price, home prices were up 7.5% on a year-on-year basis and 0.9% month-on-month.

The states with the highest home-price appreciation in December were Arizona (20%), Nevada (15.3%), Idaho (14.6%), California (12.6%) and Hawaii (12.5%).

“We are heading into 2013 with home prices on the rebound,” said Anand Nallathambi, president and CEO of CoreLogic. “All signals point to a continued improvement in the fundamentals underpinning the U.S. housing market recovery.”

Housing appears to have some momentum, with prices expected to rise 7.9% in January from a year earlier, according to Core Logic’s Pending Home Sales Index. Month over month, prices are likely to decline by 1%, reflecting the seasonal winter slowdown.

Excluding foreclosures and short sales, which sell at deep discounts to market prices, home prices are likely to rise 8.6% on a year-on-year basis and 0.7% on a month-on-month basis in January.

 Search all Virginia Beach VA homes for sale.

April Partida is a Professional, Experienced and Results Oriented, Top Virginia Beach VA Realtor committed to meeting your needs.

April has distinguished herself as a leader in the Virginia Beach Virginia real estate market. April assists buyers looking for Virginia Beach VA real estate for sale and aggressively markets Virginia Beach homes for sale. April is also a Short Sales and Foreclosures Resource Specialist (SFR). Avid foreclosure and short sale expert, committed to helping families in financial hardship find options to foreclosure.

You can reach April at 757-227-1777 or by email, april@remaxvb.com.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s