Housing prices in the nation surged 10.2 percent in February, but a large inventory of low priced foreclosures kept increases at more modest levels in Connecticut and Fairfield County.
CoreLogic, the California-based realty data firm, released a report Wednesday on national and local trends in housing prices.
“Home prices continued their march upward in February. Nationally, home prices improved at the best rate since mid-2006, marking a full year of annual increases and underscoring the ongoing strengthening of market fundamentals,” Anand Nallathambi, president and chief executive of CoreLogic, said in the report. “Continued home price appreciation will provide fuel needed to drive further recovery in the home purchase market.”
Nationally, home prices were higher when distressed properties were included in the figures, but in Connecticut, prices were dramatically lower when the foreclosures and short sales were included