IRVINE, Calif.—Home prices, including distressed sales, increased 5% in the U.S. during December, 2014, over the same period one year earlier, according to CoreLogic’s Home Price Index.
This change represents 34 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, fell by 0.1% in December 2014 compared to November 2014, said CoreLogic.
The company said that 27 states and the District of Columbia are at or within 10% of their peak. Three states showed year-over-year home price depreciation, including distressed sales, in December; these states were Maryland (-0.7%), Vermont (-0.9%) and Connecticut (-2.2%).
Excluding distressed sales, home prices increased 4.9% in December 2014 compared to December 2013 and increased 0.1% month over month compared to November 2014. Distressed sales include short sales and real estate owned (REO) transactions.
The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to increase 0.15% month over month from December 2014 to January 2015. Full-year 2015 (December to December) increase is projected to be 4.8%. Excluding distressed sales, home prices are also expected to increase by 0.1% month over month from December 2014 to January 2015 and increase by 4.5% year over year from December 2014 to December 2015.
The CoreLogic HPI Forecast is a monthly projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.
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