The latest Home Price Index report fromCoreLogic Inc. shows year-over-year increases for the Charlotte area and most national markets in January.
For the Charlotte-Gastonia-Rock Hill metropolitan statistical area, home prices were up 5.8 percent in January from a year earlier with sales of distressed residential properties included. That represents a continuation of an upward trend seen in December and in November, when home prices were up 7.5 percent and 5.1 percent, respectively, from the same month in 2011.
Local home prices were up 6.4 percent in January from the previous year when distressed sales are left out of the equation.
Distressed properties include short-sale and real estate owned transactions.
However, area home prices stayed flat in January from December, rising a mere 0.1 percent when counting distressed sales, says Irvine, Calif.-based CoreLogic (NYSE:CLGX). The increase seen locally was 1.5 percent without distressed sales included.
Nationally, home prices with distressed-property sales included were up year-over-year by 9.7 percent in January, representing the largest annual increase since April 2006. Not counting distressed sales, home prices were up 9 percent from a year earlier.
January marked the 11th month of nationwide home-price increases, and all but two states, Delaware and Illinois, experienced gains.
“Home prices continued to gather steam across a broad swath of the country in January, continuing the positive trend we saw during most of 2012,” Anand Nallathambi, president and chief executive of CoreLogic, states in the report. “Many states across the western U.S. and along the East Coast saw average price gains of more than 6 percent, which is likely to boost home sale activity into the first half of 2013.”
U.S. home prices including distressed sales were up 0.7 percent in January from December, according to the CoreLogic report released Tuesday. Without distressed sales, January saw a 1.8 percent increase over the previous month.
No comments:
Post a Comment