Can home prices record 23 months of increases? | Katonah NY Real Estate


Home prices maintained their course and increased 11% in December 2013 compared to a year ago, recording the 22nd consecutive monthly year-over-year increase in home prices nationally, according to the latest December CoreLogic Home Price Index.

Month-over-month, home prices, including distressed sales, dipped by .1% in December compared to November.

Home prices, excluding distressed sales, jumped by 9.9% in December compared to a year prior and .2% month-over-month compared to November.

“Last year, home prices rose 11%, the highest rate of annual increase since 2005, and ten states and the District of Columbia reached new all-time price peaks,” said Mark Fleming, chief economist for CoreLogic.

“We expect the rising prices to attract more sellers, unlocking this pent-up supply, which will have a moderating effect on prices in 2014,” Fleming added.

Looking ahead, the HPI forecasts that January homes prices, including distressed sales, will increase 10.2% year-over-year from January 2013. But on a month-over-month basis, home prices are projected to dip .8% from December 2013 to January 2014.

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